Council for the Municipality of Tweed is just one step away from passing its budget for this year.
A proposed budget was presented by staff at a virtual meeting of council Tuesday night.
If approved, municipal taxes in Tweed would go up by only $28 a year on the average house valued at $200,000 if the property’s assessment increased by the average of almost 4% from 2019.
Major capital projects included in the budget are the replacement of the Boundary Bridge at Hawkins Bay and road work on a stretch of Marlbank Road. Total capital project costs are estimated at $4.7 million.
Two million dollars will be transferred from reserves to balance the budget. Staff expect $4 million to be left in reserves and reserve funds at the end of this year.
Council will decide on passing the budget at its next meeting June 10.
