Chester: Council Approves Budget/New Tax Rates

Residents in the Municipality of Chester will pay more in taxes in 2013-14. Council approved its $22.4-million operating budget - agreeing to raise the residential tax rate by two cents to 66 cents per 100 of assessment. The move was needed to help balance the budget. The reasons for the increase includes reserves being diminished by just over $1.1-million for projects like a wind turbine, eco-park and Mill Cove Water Utility. As well, expenditures increased by nearly $500,000. This year's operating budget is an increase of nearly $3-million. Meanwhile, businesses are getting better news with a one cent decrease, with the new commercial tax rate at $1.53 per 100 of assessment. The operating budget is listed at $22.4-million while the capital budget is $12.1-million.