While utility rates will remain the same, residents of Stratford can expect to pay more in property taxes under the P.E.I. town’s newly passed budget. 

Residential taxes will increase by two cents per $100 of assessed value, which has an impact of about $7 or $8 per month on a $400,000 home in Stratford, said Mayor Steve Ogden.

“We have a lot of infrastructure we need to put in place for our residents that other municipalities have that we’re playing catch up on,” Ogden said. 

“When we costed everything, we figured that we had to pay as we go.… We can’t put it on future generations to pay the costs that we’re incurring today.” 

The increase is part of a three-year plan to raise property taxes to meet the town’s needs, with this year being the final year of those pre-planned increases. 

“This is money that would create a surplus, which will enable us not to have to borrow that money,” Ogden said.

“We have to show a slight surplus, which … this year is going to be just a little over $12,000.” 

Ogden said a large portion of the town’s budget is allotted to essential services like policing and fire protection — the cost of which has increased in recent years. 

Residents’ tax dollars will also go towards the town’s new community campus and wellness centre. It will include a rink, indoor turf field, library and youth centre. 

“It is something where we’re going to receive … assets that are in excess of $100 million for less than $30 million of tax dollars,” Ogden said. 

Other taxpayer-funded changes residents of Stratford can expect to see under the budget include new trails, a new pavilion on the waterfront, new active transportation paths and work to complete the boardwalk on the waterfront. 

Upgrades to the water and sewer system will be made in some areas of the town, Ogden said, and efforts are being made to improve and expand transit.