The City of Brandon’s 2014 financial plan was adopted by council Monday night.
It’s one of the final steps in the city’s budgeting process. All municipalities in Manitoba are mandated by the province to submit the current year’s operating budget, capital budget, estimated budget for the following year and a five-year capital estimate of expenditures, according to city treasurer Dean Hammond.
The city’s 2014 operating budget sits at $74.7 million. The average residential property owner, with a house assessed at approximately $220,000, will see an increase of roughly $68 in taxes this year, when the city’s 1.4 per cent tax increase is combined with the school division’s 2.9 per cent tax increase. This means the total taxes due, when subtracting the $700 homeowner grant for primary residences, would amount to $2,593.
The last public hearing on the 2014 financial plan was held at the March 17 council meeting.
There is just one more technicality to complete before the financial plan is official. The tax levy bylaw was given first reading Monday night, which Hammond says gives the city authority to collect taxes for this year’s budget.
Second and third reading of the bylaw will be held on April 22.
» Brandon Sun