Strathroy-Caradoc Council spent much of the evening Monday discussing and eventually passing the 2023 Budget. Finance Director and Acting CAO Bill Dakin shares what residents can expect in terms of an increase this year.
Dakin notes that the 2023 increase has been set at 2.95% following an estimate of around 5 to 6%, and talks about how we got there.
It was a late one, passing halfway through 2023, which Dakin notes is quite standard following an election year.
With the smaller tax increase, the annual debt payments for 2023 will be $837,662. The 2023 Capital Budget includes capital works totaling $47.4 million which will be accomplished using $3.6 million tax dollars. Included in the Capital budget are the 2023 Fleet purchases totaling $757,000 which will be purchased through the fleet budget which has an annual contribution which is part of the operating budget.
written by: K. Freeman