Businesses in New Minas will be paying more taxes this year.
The Village of New Minas passed a $2.65 million operating budget and a $417,316 general capital budget June 9.
Clerk/treasurer Terry Silver said that while the residential and resource tax rate remains at 43 cents per $100 of assessment, the commercial rate is going up to 59.2 cents per $100 of assessment.
“The residential rate is not changed, but the commercial rate is increasing by two cents,” she said.
“It’s just a natural progression. Until 2012-2013, businesses had to pay a business occupancy tax. The Village of New Minas never did make accommodations for that commercial rate loss, we felt if we didn’t have to we wouldn’t.”
With residential assessments on the rise, leaving residents paying more, the commission felt it was time to make an increase, she said.
“We have a lot of things happening in the village to attract people to the commercial areas,” she added.
An addition to the budget this year is $2,300 budgeted for a new splash pad project in the village. It’s estimated the splash pad will cost $150,000, but several fundraisers have already been held to help offset the cost and village staff have been fundraising as well to the tune of $5,000.
“The project likely isn’t going to happen this year – we just got word of another grant we can apply for, and our recreation director is looking for grants all the time,” Silver said. “We want to take our time and do it right.”
The splash pad will be economical when it’s up and running, she said, as staff have devised a way to recycle the water from the pad to irrigate the soccer fields.
“It will save money and be good for our ecosystem,” Silver added.
The village has set the water operating budget at $886,653, while the water capital budget has been set at $55,362.