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Small tax hike in SEL 2010 budget

by Simon Conolly

by Simon Conolly

Taxpayers in Smith-Ennismore-Lakefield are facing a small municipal tax increase this year, although the full story won’t be known until the rates for Peterborough County and the school boards are finalized later this month.

The township wants to raise $5,203,513 through property taxes in 2010, an increase of $133,876 over the previous year.

Real assessment growth will account for $33,654 of that, leaving taxpayers to contribute an extra $100,222, a 1.98 per cent increase.

While Lakefield gets off easily with no increase in the cost of the Peterborough Lakefield Community Police Service, OPP costs in Smith and Ennsmore are up $198,324, or 7.59 per cent.

What it all means is that owners of an ‘average home’ in Smith or Ennismore – assessed at $213,650 last year and $225,828 this year – will see their municipal taxes rise from $670.16 to $691.40.

In Lakefield, the increase for that same home would be from $1,146.36 to $1,159.83.

Actual tax bills will not be known until the rates for Peterborough County and the school boards are finalized.

SEL Manager of Financial Services Lane Vance presented the budget to council members at a special meeting March 4.

A public presentation was made during Tuesday’s council meeting.

Council is expected to formally adopt the budget at its March 23 meeting.

Mr. Vance said budget principles had been maintained. They are:

• consistent and steady – no tax spikes;

• long term perspective when setting rates;

• maximize grants for capital programs; and

• maintain a strong reserve position.

Reserves are actually down about $0.5 million from last year, but remain healthy at $9.5 million.

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