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Town budget through tough year and mill rate shifts
Russell 1 Chamber hears Russell town CAO Wally Melnyk discuss a challenging budget year driven by reassessment. Residential values rose about 22 percent while commercial increased 13 to 19 percent. Commercial mill rate set at 61.09, down 17 mills. residential mill rate down 19.6 percent. A two year phase in of the 2010 assessment aims to level large shifts. The town eyes a five percent tax increase to cover rising costs and one time multiplex costs. A public notice debated a possible 2 million borrow for the multiplex with provincial and federal grant hopes.
MENTIONED IN THIS ARTICLE
Melnyk
Chamber