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Financial Plan

The financial plan for 2011 has been completed and is based on priorities and discussions from our annual planning session and community consultations. To see the bylaw for the 2011 financial plan click here. The financial plan for each year is finalized within the first quarter and typically receives first reading at a public meeting in March or April.

Taxation is a complicated subject and council considers both the delivery of services as well as the financial impact on households when doing its budget and adjusting taxes accordingly. For 2011, your residential tax bill will include the following:

  • Apportioned Assessment - Residential properties are assessed with the market value as of April 1, 2008 and then apportioned to pay tax on 45% of this value
  • General Levy - 9.699 Mills - This goes to general government services and reserves
  • Special Services - 3.147 Mills - This is used for fire, EMR, police services
  • Sewer Maintinence Fee - $61.60 - In many jurisdictions this is part of a water and sewer bill. As not all residents are on metered water, this is included as a tax bill item
  • Waste Collection - $80.00 - This is for waste and recycling, reduced from last year. As with sewer, some jurisdictions show this on a separate bill
  • Lagoon Debenture - $245.69 - This is the charge for the construction of the new lagoon constructed in 2007.
  • Other - There may be other LID charges on your tax statement for improvements within your specific area of town
  • School Division - These are taxes, set by the Hanover School Division and levied on their behalf