The SOE was prepared with no changes to the residential tax rate of $ 1.30 and the commercial rate of $ 1.85. This year's SOE is proposing an increase of approximately 9% in revenues and expenditures from the 2021-2022 estimates.
Tax revenue has seen an increase over last year's budget of 8.8%, this is mainly due to a boom in the market which is leading to an increase in assessments. The Municipality of the District of Digby has had no tax increases in the past sixteen years.
| Tax Revenue | Rates | 2022 - 2023 | 2021 - 2022 | % |
|---|---|---|---|---|
| Residential | $1.30 | $5,533,264 | $5,071,756 | 9.1% |
| Resource | $1.30 | $381,098 | $343,299 | 11.01% |
| Commercial | $1.85 | $883,780 | $833,009 | 6.09% |
| Less Seasonal Tourist Reduction | -$9,974 | -$11,438 | ||
| Total Tax Revenue | $6,788,168 | $6,236,626 | 8.8% |