Town Council approves 2024-2025 budget; residential and commercial property tax rates unchanged

TOWN COUNCIL APPROVES 2024-2025 BUDGET

Bridgewater Town Council passed its 2024-2025 Capital and Operating Budget on Monday, April 8, 2024, with no increase in property tax rates for residential or commercial owners in the community.

Total budgeted operating expenses for the coming year will amount to just over $32 million, an increase of about $3.3 million over the previous year's budget. On the capital side of the ledger, Bridgewater's new capital expenditures are budgeted to total $8.4 million.

"We have a large challenge ahead of us relating to wastewater, and so our capital budget is quite significant. It's the only way to address the problem and facilitate continued development of new housing units, including much-needed affordable housing, and something we cannot 'put off' for another day," explained Mayor Mitchell.

"Like every municipality in the province, our roads need work and this year we will continue to work on paving streets and sidewalks, with about a million dollars of work being done - some welcome news for many is that Empire Street, from York to Hillcrest, is being paved this year."

Unlike other levels of government, the mayor noted, municipalities cannot budget for or run a deficit - something that makes budget time extra challenging for elected officials and Town staff.

"We were not immune to the pressures of inflation and the extreme increases in costs for materials and projects," Mayor Mitchell said. "Staff made reductions and cuts where they could, while maintaining the level of service our residents and businesses expect, and ensuring that we are able to continue the process of addressing our wastewater capacity issues."

BUDGET HIGHLIGHTS

► Residential tax rate remains at $1.85 per $100 of assessment.

► Commercial tax rate remains at $4.07 per $100 of assessment.

► The commitment toward capital projects this year includes:

- A total of $5.1 million will be invested in wastewater infrastructure to support residential and business growth and development. Ongoing investment in wastewater infrastructure will also have a positive impact on the environment and the health of the LaHave River.

- A total of total of $918,000 is being invested in road-related upgrades, including paving projects on Empire Street and Pearl Street, and approximately $600,000 dedicated to other pavement renewal projects throughout Bridgewater that will take place late this summer. A total of $140,000 is also earmarked for sidewalk upgrades.

- Ongoing investment in infrastructure and services work in the Bridgewater Business Park and the lands surrounding the new Exit 12A interchange, amounting to approximately $5 million.

► The Town's commitment to core services and strategic priorities remains strong, including allocations for Fire Protection ($1.8 million), Bridgewater Police Service ($4.3 million net), and the Lunenburg County Regional Emergency Management Organization ($52,000).

► Council is also investing in several initiatives designed to enhance quality of life in the community and enhance Bridgewater's profile as a desirable destination:

- Roughly $158,000 will be going toward a park preservation project, designed to safeguard Bridgewater's parkland trees against the invasive Hemlock Woolly Adelgid.

- The Town is investing $1.5 million total in recreation facilities, including the Lunenburg County Lifestyle Centre, the O'Regan's Subaru Outdoor Swimming Pool, and the community's ample parks and trails networks.

- Bridgewater is investing more than $92,000 in community events, such as Canada Day on the LaHave, Christmas on the LaHave, Harvest Moon Music Festival, and the acclaimed Music on the Riverbank concert series.

- Council has also set aside $38,000 for TOB125 celebrations, marking the 125^th anniversary of Bridgewater's incorporation - this sum will augment a grant of $24,000 received from the Government of Canada to mark the anniversary.

- The Town is providing $70,000 in funding to its Low-Income Property Tax Exemption program, as well as $11,500 to ProKids, $45,000 to local non-profits through the Grants to Organizations program, and $123,000 in support of qualified tax-exempt properties owned by non-profit organizations.

Interim tax bills will be mailed in April and will come due by Friday, May 31. Final tax bills will be mailed in August and come due on Friday, September 27.

Budget information, including the complete operating and capital budgets, is available at www.bridgewater.ca/budget24.