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% |