EMBRUN – The township of Russell has passed a bylaw making the 2022 tax increase official.
During the May 16 council meeting, local politicians officially approved a bylaw establishing the final tax rates for 2022 for all categories. As per the 2022 budget deliberations, the tax increase is set at 2.5 per cent. The bylaw also stipulated that the identified additional tax revenue be allocated to the recreation complex project reserve. Council passed the bylaw after making some adjustments to how and where the extra funds are to be allocated.
“The 2.5 per cent tax increase approved by council with the 2022 budget will generate a tax levy of $14,748,218, which is $111,330 higher than what had been estimated in the 2022 budget,” director of finances and treasurer Richard Godin said in his report. “We will, from now on, transfer on an annual basis an amount of $111,330 to the recreational complex reserve. By 2028, an additional amount of $791,310 will have been set aside for this project. Afterward, the allocation of $111,330 will help cover approximately $1,484,000 of the total debt.”
The report stated that the additional revenue is mostly due to the township’s increased growth in the past year. It was also noted that the United Counties of Prescott and Russell had adjusted the multi-residential ratios, which also resulted in a bit of additional revenue.
Council members chose to amend the second portion of the bylaw. From the $111,330, they suggested that $75,000 be allocated to the recreational complex reserve, while the remaining $36,330 be allocated to the proposed Russell Village splashpad project. The bylaw was passed as amended.