West Bolton Budget

All councillors and the Mayor were present by Zoom. The budget was reviewed and approved.

Revenue: $1,937,041. + 18%. Rate of property tax: 0.48.

Expenses: $2,103, 307. + 12%

Deficit: $166,266.

Discussion – The deficit will be covered through the transfer of funds from other accounts and government grants. The new property tax roll came into force on January 1, 2021. There has been an increase of 7% in the average value of houses in West Bolton. The tax increase on a $200,000 house is $70. The “welcome tax” has been increased from 1.5% to 3% on that portion of the value of property sales above $500,000. There were several questions concerning the possible construction of a new Town Hall and the need for more public consultation