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Tillsonburg Finalizes 2013 Budget

Tuesday, 12 March 2013 11:17

It?s a 3.37 percent levy increase for Tillsonburg taxpayers. The town?s total budget comes in at just under $24-million, with $12.4-million needed from taxation. Director of Finance Darrell Eddington says that?ll be just under $50 more per household. ?The budget sits at a little under $12,392,000, that?s a reduction of almost $100,000 year over year, budget over budget. We started higher and got ourselves down to where we?re at right now,? said Eddington. The town?s Mayor John Lessif was pleased with the result of the budget. ?Staff listened carefully to the direction and challenges that we put to them and worked collectively to come to what we thought was a responsible budget given that the library costs are now on the county library tax levy,? said Lessif. He?s also pleased that they?re able to reduce their debt. ?There?s been significant progress in getting our house in order in respect to our debt. In addition to that we?re continuing on with infrastructure spending. Not as much as we?d like to do, but we are continuing on with that and we?re putting money aside for future capital expenditures by building reserves,? said Lessif. If all goes to plan, the town hopes to have their debt looked after by 2040.

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