An increase in total property valuation means tax rates are going down for residential property owners in the Village of Grenville this year. But due to inflation, taxpayers may not see much of a difference on their bills.
The 2022 municipal budget was approved by council on December 20, 2021, with balanced revenues and expenditures estimated at $2,760,688 – 3.96 per cent more than the $2,655,637 municipal budget for 2021. Grenville Mayor Pierre Thauvette released a statement explaining the details of the budget.
A re-evaluation of all properties in Grenville was performed last year, which resulted in an average increase of 17 per cent per property, with a total valuation of $170,453,100 for the entire village. As a result of the increased valuation, the general tax rate for 2022 is being reduced to 73 cents per $100 of valuation from 83 cents per $100, in order to mitigate the impact of the valuation increase.
For residential properties, the 2022 tax rate is $0.9709 cents instead of the previous rate $ 1.1282 per $100 of valuation, which represents a decrease of 14 per cent. Council has also reduced the tax rate to 30 cents per $100 of valuation from 35 cents per $100 on non-residential buildings.
However, with an inflation rate of 5.1 per cent, the amount owing on tax bills will be approximately the same, according to the mayor’s statement. Residential taxes are projected to comprise $887,904 in municipal revenue in 2022, and non-residential taxes are projected to comprise $354,548 of 2022 revenue.
Sûreté du Québec policing costs for Grenville are increasing by 2.76 per cent in 2022 to $123,240. Rates for water system customers and waste disposal will not change.
The Village of Grenville is proposing $7,114,250 in capital spending in 2022. The majority of that amount is $4,500,000 for continued revitalization of the historic Grenville canal. The federal and Québec governments have each provided 50 per cent of the funding. Gasoline tax rebate funding of $1,000,000 will be used for infrastructure improvements on rue du Moulin, and $200,000 from provincial grants and municipal reserves will go toward completing the new recreational path connecting rue Queen with the IGA store on rue Maple (Route 344).
“The council is satisfied with the achievements of 2021 and has a good outlook for 2022,” Thauvette’s statement concluded.