Creston Town Council reviewed the Core budget that will affect the 2019 proposed Municipal Tax increase.
Director of Finance and corporate services, Steffan Klassen laid the groundwork, putting into account several presentations from staff regarding services ranging from fire and rescue to town administration and feedback from the 2019 citizen budget survey.
Creston is looking at a 3.69 per cent raise in property taxes should council move forward with the proposed budget. That takes into account the 2.3 per cent Consumer Price Index which covers inflation for all proposed budgets.
A $200,000 home will have to pay $1,152 in property tax, $41 more than last year, whereas a $400,000 home will see an increase of $82, owing $3,304.
Klassen said during his presentation to council that the estimated revenue for the Town will be just over $7.1-million. With proposed operating expenses under $6-million dollars and debt payments of $164,276, that leaves a surplus of $938,861. Half of that sum will be transferred to capital reserves. Both Klassen and Mayor Ron Toyota iterated the importance of a surplus and how it covers unforeseen expenditures which dog all municipalities at any given time.