Bancroft residents have mixed feelings about the message delivered during a public budget meeting.
The town’s draft 2018 budget was presented to residents during the meeting at Club 580 tonight, along with council’s plans for the future. Mayor Paul Jenkins told those at the meeting the goal is to stay competitive with other communities in the area. In order to do that, Jenkins says council is working on bringing taxes down long-term so that developers will want to build in Bancroft. In turn, this would encourage people to move here, which will help spread the cost of services.
This year, the town is targeting a tax decrease of about three per cent. Treasurer Arthur Smith tells Moose FM that adds up to taxes going down by nearly $72-a-year for the median property assessed at $142,000.
Moose FM spoke to Bancroft residents about how they feel about the meeting.
Jenkins says he thinks some people are missing the big picture. He says there are a lot of small issues, but the town needs to stimulate growth and look for efficiencies.
The town’s 2018 budget could add up to more than $10-million. Transportation, which includes road maintenance, makes up the biggest expense at 21 per cent.
The town’s total debt sits at just over $6.3-million at the end of 2017. It will be gone by the year 2041 if the town doesn’t take on any new debt.
The budget is expected to be approved during council’s meeting next Friday.