The Township of Laurentian Valley has approved the 2021 budget.
The 2021 budget includes $12-million in spending with a levy increase of 7.15% (1.97% in operating, 2% in Capital Reinvestment Reserve and 3.18% increase to the capital budget).
The impact of the 2021 budget translates to $33.98 per $100,000 assessment for municipal purposes.
For the average Laurentian Valley household assessed at $254,820, the impact would be an increase of $86.58 for the year.
This amount is roughly three times higher than the increase Laurentian Valley taxpayers faced in 2020 as the increase was pegged at $9.37 per $100,000 in assessment.
Despite the increase, Laurentian Valley continues to have the third lowest tax rate amgonst the 17 municipalities in the County of Renfrew.