Essex Town Council made a municipal tax increase official Monday.
Residents will be paying around 3% more in 2017, a little more than the 2% increase councillor Sherry Bondy says the town had planned months ago.
"Council decided at that meeting going into 2018 that we would have a 2% increase in taxes straight across the board without even looking at the 2018 budget. Strictly for asset management," says Bondy.
The town's budget was created with a different number in mind for the school board, but when the school board's tax rate came in lower than expected, she says a $96,000 surplus was identified.
The extra cash is to be used for asset management over the next few years, according to Bondy.
"I'm looking at infrastructure, at roads decaying, at vehicles decaying, and at buildings decaying," she says. "We gave those roads and buildings a report card, and the report cards are telling us that we're not investing enough into life cycling in our infrastructure."
She told AM800 News the increase might upset some residents, but after identifying a serious need to maintain the towns infrastructure and equipment, council felt the price jump is fair, and necessary.
Rather than finance projects and equipment needed in the coming years, Bondy says council decided it was better to ask residents to pay now, so they didn't have to pay later, with interest.
"Investing is better than being reactive. So if an arena roof is repaired and it's estimated to be a 10-year-roof, then year one we start to save 10%, year two, now we've 20%," says the Ward 4 councilor.
The town's operating budget for 2017 is estimated at $38.7-million.
Bondy says council will continue to try and build on their surplus in future budgets.