Quispamsis councillors have approved a tax cut as part of next year’s $37-million budget.
The residential property tax rate will be cut by nearly 1.8 cents to $1.2599 per $100 of assessment.
However, many residents will still see higher tax bills due to larger provincial assessments.
Water and sewer rates will also rise by around four per cent in the upcoming year.
The overall budget is around $2.7 million, or eight per cent, higher than the 2024 budget.
Nearly half of that increase involves more capital funding and a larger transfer to reserves.
Council approved just over $7 million in general capital projects for the upcoming year.
Around $4.6 million will come from the operating budget, compared to $3.7 million last year.
Another $2 million will be financed by borrowing with $400,000 coming from the federal Canada Community-Building Fund (CCBF).
Just over half of the budget, nearly $3.7 million, has been earmarked to upgrade roads throughout the town.
There is also $544,000 for phase one upgrades at the Cedar Ridge playground, $650,000 to renovate the public works building and $280,000 for projects at the town’s two arenas.
The 2024 utility fund capital budget is $4.62 million. There is $1 million from the CCBF, $2.5 million in borrowings and $1.12 million from the utility operating fund.
