Centre Wellington township has more than a billion dollars in assets under it’s control, everything from bridges and roads to lawnmowers.
Under provincial law, all municipalities must have an asset management plan which details how those assets will be repaired, maintained or replaced.
Like anyone else, the municipality has to take care of the assets it owns. In order to do that staff is reccomending a two per cent annual increase, although that doesn’t necessarily mean your taxes would go up that much. Any tax increase would be part of the normal township budget procedure.
While the vast majority of township assets are tax supported, assessment growth also needs to be taken into account. As well there are external sources of funding, including federal and provincial grants.
You can read the entire asset management plan here.
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