Despite having a couple of big projects on the horizon, the Greenwood village commission managed to hold the line on taxes in 2014/15.
At the village’s recent annual meeting, the five-member commission presented the budget for the coming fiscal year. Residential and commercial tax rates will remain at last year’s rates of 23 and 29 cents, respectively, on $100 of assessed value. The village expects to collect $385,200 in taxes based on combined assessed values of $1.58 million, up from last year’s assessment of $1.55 million.
Greenwood’s balanced operating and capital budget of $428,100 calls for revenues and expenses of $129,150 for public works, $100,250 for government services, $83,000 for transportation services, $46,000 for the civic building, $40,000 for fiscal services and $29,700 for recreation and cultural services.
The largest project for the village involves the switch over of its street lights to LED technology. Stranded asset costs for old streetlights have now been settled on with Nova Scotia Power and the village has budgeted $240,000 for the project.
“It took us longer that we wanted to get this going,” acknowledged commission chairman Don MacDonald.
Greenwood partnered with Wolfville, Middleton and Bridgetown to tender the light replacement work. MacDonald hopes the work will be completed by the end of July.
“I will be watching our light bills to see the impact of these new lights,” noted MacDonald, who said sidewalk construction on Tremont Road may also be explored in the year ahead.
“Development has been on the increase out there,” resulting in more vehicle and pedestrian traffic, he noted.
"So we need to look at doing something."
A boundary review has also been under discussion by the commission. MacDonald said commissioners have agreed to wait until Kings County council wraps up its 2050 planning exercise before launching anything official.
“It’s important that our plan is in line with Kings County’s,” pointed out MacDonald, adding there is potential for 42 new lots to be developed in River Ridge Subdivision.