Press Release 2022 Budget

Administration for the Town of Vermilion proposed a 2022 Operating and Capital Budget with the goal of ensuring that Council’s highest priority programs are maintained, the right generation is paying the costs, and any changes in tax and other rates are as predictable and stable as possible while supporting the Town’s financial sustainability. An operating surplus of $10,371 not including amortization is budgeted in 2022, as well as Capital expenditures of $2,070,000 in 2022 are included in the proposed budget.

The proposed budget includes streamlining staff efficiencies as well as numerous other measures to reduce costs in contracted services and supplies. Council has encouraged Town Leadership to reduce costs where possible and Management has carefully reviewed all expenditure areas from the standpoint of materials, supplies, contract services and personnel costs.

With non-discretionary expenses including RCMP contracted costs, insurance, utilities, inflationary increases in numerous expenses, decreased revenues and decreased provincial funding there was still a net revenue shortfall. The increase in RCMP contracted costs accounted for 50% of the required increase in property tax revenue.

The shortfall will be funded by a $115,861 increase in municipal property tax revenue. For every $2,000 in municipal property tax paid by residents this will amount to a change of $44 annually, $66 for municipal property tax of $3,000 or $88 annually for municipal tax of $4,000. For the average resident, whose property tax consists of the Provincially managed education property tax requisition, Lodge (Vermilion & District Housing Foundation) requisition, library requisition and a combination of changes in assessment approximate municipal portion of their total property tax bill is 70%.