The MD of Bonnyville has put the final stamp on their 2019 budget. The balanced $132 million plan is funded by about $76 million in taxes, $10 million in government grants and just under $37 million coming from the reserve and surplus funds the MD had in the bank.
Non-residential mill rates are down to 14.50 from 15.00. Council hopes to hit the 5:1 ratio for non-residential/ residential mill rates by 2020.
“Reducing the non-residential mill rates, and maintaining the small business sub-class, fulfills a promise made by this Council,” says Reeve Greg Sawchuk. “In the current economic climate, the Council wants to help maintain the businesses we have and encourage new businesses to locate in the M.D..”
The Residential and Farmland mill rates are being held at 2.7663 and 5.000 respectively. Tax notices are expected to be out in the latter part of June.