Council Approves 2023/2024 Budgets
At their regular meeting on February 22, 2023, East Hants Council passed the 2023/2024 Operating Budget, the 2023-2028 Five Year Capital Budget and the Water Utility Operating Budget, following the presentation and review process. The budgets will come into effect on April 1, 2023. The municipal budgets guide the spending required to meet the strategic objectives of Council and provide services to residents. Council approved a budget that balances fiscal responsibility with planning for the future.
The overall municipal operating budget for 2023/2024 is $41.9 million.
“This budget allows us to balance the growth that East Hants is experiencing with the needs of our communities.” says Warden Eleanor Roulston. “I believe Council has established a responsible budget that continues to provide key services, supports needed capital projects and maintains an affordable tax rate for our residents.
Budget Highlights:
- The general residential/resource tax rate saw a decrease from $0.85 to $0.81 per $100 of property assessment
- 4¢ per $100 of assessment or 4.7% reduction
- The commercial tax rate saw a decrease from $2.60 to $2.57 per $100 of property assessment
- 3¢ per $100 of assessment or 1.2% reduction
- Overall, residential assessment increased by 15.74%, half of which was due to new construction, subdivision and permits
- The commercial assessment base has grown 15.66% with approximately 50% coming from new investment (primarily construction permits) in East Hants
- An increase of 11.3% in RCMP services includes an annual per officer increase of 2.47% and an addition of two (2) officers to the East Hants detachment
- East Hants will pay the Province of Nova Scotia $6.4 million in contribution to education services, an increase of $563,000 or 9.7%
- Homes in the CAP Assessment Program were capped at a 7.7% assessment increase this year, which is the highest increase since the CAP program began
Council worked through the budget process to achieve reductions in both the general residential and resource tax rates and the commercial rate, realizing that minimizing the tax burden for tax payers was a key priority. Tax rates are charged based on the assessed value of a property. Assessment rates are determined by Property Valuation Services Corporation.