The Nation Municipality is collecting 2.95 per cent more in property taxes in 2023 than it did in 2022, and that means an increase of $21.78 per $100,000 of valuation on a residential property, according to the 2023 municipal budget.
In 2022, the property taxes were $738.37 per $100,000 of residential valuation. In 2023, they are $760.15.
The 2022 municipal budget projected $12,959,730 in total tax revenue for all property classifications. The 2023 tax revenue total is projected to be $745,769 more at $13,705,499.
Tax revenue is projected to compose 44 per cent of the total $29,402,220 of municipal revenue that is projected for 2023. Service charges and other revenue will compose 31 per cent of revenue, followed by grants at 12 per cent, long-term debt at six per cent, and the remainder from reserves.
The total operations budget for The Nation in 2023 is $24,438,409. In 2022, the operations budget was $21,953,142.
The 2023 capital budget for The Nation is significantly less than in 2022 due to upgrades on the Limoges water system being close to completion. In 2022, the capital budget for the municipality was $42,571,859. The 2023 capital budget is $4,963,811.
The largest capital expense allocation in 2023 is $1,974,467 for the Limoges water system followed by $1,774,631 for the Department of Public Works. A total of $782,750 has been set aside for arena, sports, complex and community centre capital needs, and $500,868 for library capital spending.
According to a graph provided in the municipal budget document, the most tax dollars in The Nation in 2023 will go to transportation, followed by administration, and then recreation. Out of every tax dollar in The Nation in 2023, 91 per cent will be spent on operations, seven per cent on capital, and three per cent will be contributed to the municipality’s reserves and reserve funds.
To view the complete 2023 budget for The Nation municipality, go to https://nationmun.ca/wp-content/uploads/2023/03/00-Final-full-budget-w-table-of-contents.pdf .