It’s official; taxes in Bancroft are dropping by three per cent this year. Bancroft Council has voted in favour of the tax decrease, which equals out to about $72-a-year for the median property assessed at $142,000.
Mayor Paul Jenkins says he is happy with the outcome, and says the town has to continue on this path into the future in order to attract development. Jenkins says this is critical to stay competitive with neighbouring communities.
Jenkins says this causes a downward spiral where Bancroft’s costs increase.
Transportation, which includes road maintenance, makes up the biggest expense in the $10-million budget at 21 per cent.