Despite significant inflationary pressure on the cost to deliver services and maintain infrastructure, the City of Corner Brook has tabled a balanced budget without significant tax changes.

• Expenses are anticipated to rise by 5.13% in the coming year, to $37, 414, 385.
• The City is anticipating a 39% increase in the cost of chemicals for the Water Treatment Plant. To offset these costs, the residential unit charge will increase by $20 per year and the commercial unit charge will increase by $30.
• The City’s debt service ratio for 2023 is at 9.19%. While this is an increase from 2022’s 8.85%, it is still comfortably low and will allow the City to invest further in capital projects.

Tax Changes

• There will be no mil rate increases on property tax.
• The busy housing market means assessments are up for the coming 2023 tax year (approximately 5%). While the mil rates have not increased, some homeowners will see an increase in their tax bill for the coming year.  The average tax bill will increase $92 per year or $7.70 per month.
• Commercial property values have decrease by approximately 1%.
• Tax rates for business in the categories “Professional Operations” and “Banks” have increased by 8% and 11% respectively. This increase was largely required to offset decreases in assessed values, so most businesses will not see a significant change in their tax bill.

Key initiatives

• Tourism was extraordinary in 2022 and the City plans to capitalize on the momentum. The City will make further investment into our STAR initiative in partnership with our municipal and business counterparts in the Bay of Islands / Humber Valley Region.
• We are anticipating a late 2023, early 2024 opening for the regional recreation centre. This year, we have seen an increase in use for our existing recreational facilities, and anticipate this growth to continue. To steward this growth we have created a position for a Director of Recreation.
• In 2022, the City saw more capital works projects and public works upgrades and maintenance than ever before. We will continue many of these major undertakings through 2023 while also focusing on efforts to repair asphalt and sidewalks. We will also see the completion of sewer upgrades for the new hospital, a project valued at approximately $10.5 Million.
• In 2023 we will see the completion of the Corner Brook Stream Trail’s accessibility upgrades from Margaret Bowater Park to Glynmill Inn Pond.  We will also see the beginning of our Great Trail construction. This trail includes improvements and expansion of the biking/ walking trail through Curling to Mount Moriah.
• To reduce our water usage, Council will seek funding and has set aside our own funds for a comprehensive leak detection study. Over the last number of years, the City has taken measures to find hidden water loss, but through a comprehensive study and additional district metering, staff feel it is possible to make significant reductions in water production.

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MEDIA CONTACT
Ryan Butt
Communications Officer
City of Corner Brook
Office: (709) 637-1662
Cell: (709) 632-8113
rbutt@cornerbrook.com