Regional Council approves 2015-16 operating and project budgets; focus on fiscal restraint and future capital

Tuesday, April 28, 2015 (Halifax, NS) – Regional Council today approved the 2015-16 operating and project budgets for the Halifax Regional Municipality. The $869 million gross operating and $135.8 million gross project budgets include a residential tax rate increase of 1.1 cents, while the urban commercial tax rate drops by 4.4 cents and both transit tax rates decrease. 

The general rates of taxation on residential property (per $100 of assessed value) will be set at:

• $0.669 for the urban area
• $0.636 for the suburban area
• $0.636 for the rural area

The general rates of taxation on commercial property (per $100 of assessed value) will be set at:

• $2.895 for the urban area
• $2.895 for the suburban area
• $2.566 for the rural area

Tax rates associated with Transit (per $100 of assessed value) will be set at:

• $0.049 for the Regional Transportation tax rate
• $0.102 for the Local Transit tax rate

“Since the 2012 election we have held the line on spending and reduced tax rates,” said Mayor Savage.

“This budget will ensure that critical services such as public transit, street and sidewalk maintenance, parks, recreation and libraries will continue to be appropriately funded as we prudently prepare for future infrastructure that will allow our municipality to grow.”

The residential tax rate increase will enable new programs, services and infrastructure including:

• a new four-pad arena complex in Dartmouth;
• investment in rural fire services;
• Lake Banook/Mic Mac weed control;
• construction of the second North Park roundabout and permanent pavilion building at the Emera Oval; and
• continued implementation of a five-year, $43 million investment in transit technology upgrades.

“Over the past few years we have aggressively reduced our reliance on debt as a funding source, and strategically planned for future needs through smart savings,” said Halifax Chief Administrative Officer Richard Butts. “The result is a financially responsible approach to delivering programs and services that reflect Council priorities – all aimed at maintaining, enhancing and improving our residents’ quality of life.”

For more detailed information on the 2015-16 operating and project budgets visit www.halifax.ca/budget.

Source: Release