Taxes creep up in Bishop’s Falls
Commercial property assessment dip leaves revenue shortfall
Residents and businesses in Bishop’s Falls will see an upward bump in their tax bill in 2022.
The town approved a balanced budget of about $3.5 million, an increase of one per cent over 2021.
To balance the budget, council approved a .5 mill increase in residential property tax and a .33 mil increase in commercial/crown water/ sewer tax. The minimum tax rate increased to $500.
Kirk McDonald, chair of the finance standing committee, noted in presenting the budget to fellow councillors on Dec. 21 that the commercial assessed values were lower when compared to the previous year by about four to five per cent, meaning less revenue was available to balance the budget.
Mayor Bryan King noted that in 2021 nine capital works projects were completed or initiated.
Expenditures for this year include capital funding to conclude four capital works projects: Main Street asphalt upgrade (750 meters in the west end); phase 1B of the Exploits River Tourism Product Development Project (Riverside Drive access site); Beaumont Heights brook infrastructure improvements; and the Main Street Linear
Park.
King noted council says it’s important to continue with the next phase of the developments along the Exploit’s River — developing the access point on Riverside Drive, including a new kayak launch, in addition to an extension to the boardwalk all the way up to the railway trestle.
“Right now, because we’re past the infancy stage and starting to get to the end product of our overall tourism strategy, the intent was to increase overall tourism by increasing accessibility and usability on the Exploit River,” he continued.
“In increasing tourism, we are hoping that the entrepreneurial spirit within the community will identify that there’s more people coming in so, in turn, there’s more demand for goods and services. So, we’re hoping our business community will build upon it from there,” the mayor added.
“We’re starting to see some uptake in some food vendors. I think they’re identifying that tourism numbers are growing and there’s an increased demand. There’s certainly some talk around throughout the business community about some needs that are being identified and I’m sure in time as the (traffic) increases the business community will step up and provide those services.”
About $22,990 was earmarked for the 2022 Main Street upgrade and council contributed $7,160 to the Trestle re-decking project, which the Newfoundland T’Railway Council is leading.
“They oversee the Cross Canada Trail here in this province and they are ultimately responsible for all the bridges,” King explained. “… Even though it’s not our asset, it’s something that is very near and dear to our hearts. A lot of our residents use it in addition to the tourists that are coming through. It’s a vital bridge in the whole network so we thought we’d chip in there as well.”