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Bancroft will aim for tax increase under inflation rate: Mayor

Bancroft is aiming to present an operating budget next month, which would call for a tax increase that’s below the rate of inflation.

Mayor Paul Jenkins said that during a speech to open a council meeting earlier this week. 

He said many municipalities are feeling the effects of increased costs and supply chain issues, making it tempting to dip into reverses. Jenkins said, with the extra budget pressures, the town is taking extra time to evaluate short and long-term capital requirements.  

He said “early indications” show that the town can achieve a rate under inflation, but it won’t be easy. He noted that aging equipment and infrastructure are making the process a challenge.

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He added a draft budget is scheduled to come before council in mid-April. After that, it will be presented to the public. 

Statistics Canada’s Consumer Price Index – otherwise known as the national inflation rate – was listed at 5.9 per cent for January. 

Jenkins’ speech also touched on the progress of some town projects.

He said Part 2 of the Main Street Makeover is scheduled to resume in mid-April.

He also said the new library-community hub remains on track. That new building will include apartments, which the town hopes to make as “affordable” housing units.

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