Transfers $272,500 from working reserves
CENTRAL MANITOULIN – The news was generally good for the ratepayers of Central Manitoulin as council revealed a 1.5 percent increase in the mill rate for 2020, raising approximately $4,817,000 for the municipal portion of the levy.
The levy benefitted from a slight increase in assessment in the township from $432,842,168 in 2019 to $454,340,400 in 2020. Coupled with a decrease in the education levy, the overall increase for 2020 came in at less than one percent—0.733 to be precise.
The budget will see the difference in the increased costs facing the municipality from the levy through a $272,000 draw on the working reserve funds to revenue.
Council also passed a three dollar increase per quarter in the utility bills.