Madawaska Valley residents may see their property taxes go up 2 per cent this year.
A draft budget document calls for that increase. It was released in the agenda package for council’s March 22 meeting.
The agenda also includes a motion, calling on council to accept the increase, which would give the municipality overall tax revenue of about $4.6 million.
The report notes that the increase is below the 5.9 per cent inflation rate reported by the Bank of Canada and well below rates set by other municipalities across Ontario, some of which are seeing increases of 15 per cent.
It also says that the municipality is seeing a need to invest in infrastructure and maintain roads, facilities, vehicles, equipment and parks. This, the report says, makes it necessary to gradually increase taxes.
The value of properties in Madawaska Valley, for tax purposes, are not going up. The report says all property values are based on 2016 assessments. The report says that re-assessments have been frozen due to high inflation rates.