Council approves 22/23 budget - Media release

Wolfville's Council has approved an operating budget totalling $12 million for the fiscal year 2022/23, with a capital investment plan of $5.9 million.  

Through this year’s budget process, Council was able to lower the tax rate, to ensure property tax increases stay within cost of living.  This was possible despite challenges of major cost increases in several areas of the Town’s services, including policing costs budgeted to increase by $259,000.  Council was able to utilize the Town’s healthy cash reserves to offset a number of these cost increases. 

 The approved budget includes a decrease of 1.75 cents to the residential rate bringing it to $1.4575 per $100 of assessment, a decrease of 1 cent in commercial rate to $3.575, a decrease of 2 cents in the business development area rate to $0.26, and small decrease in fire protection area rate 4/10th of a cent to $0.052.

 

Media release - Budget approved for 22/23