For Immediate Release

Town of Bay Bulls Adopts the 2025 Municipal Operating Budget

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December 3, 2024

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The Town of Bay Bulls adopted its 2025 Municipal Operating Budget on November 28, 2024 and is pleased to announce that taxpayers will not receive any increases to the residential or commercial mill rates for 2025.  The Town's 2025 Budget is a balanced budget with expenditure totaling $3,787,361.14 and revenues of $3,787,361.14. 

The Town worked diligently to ensure there would be no increase to the mill rate for the upcoming year and are thrilled to be able to deliver on this commitment.  In keeping with our commitment to foster growth and sustainability within the Town of Bay Bulls, while also tackling the economic challenges faced by many of our residents and businesses, the Town will be offering FIVE incentive programs. 

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Incentive 1 – Residential Early Payment Discount

Residential tax-payers who pay their invoice in full by March 31, 2025 will receive a 12% discount on the total payable. The discount date has been moved to from May 31 to March 31 in accordance with the new Towns and Local Service Districts Act that will take effect January 1, 2025. Municipalities are no longer able to offer an early payment discount date past March 31.

Incentive 2 – Interest- Free Payment Plan

Our Interest Relief Program is available for residents and business owners who wish to make a payment arrangement to pay their invoice in increments throughout the year with no interest penalties. Participation in the Interest Relief Program will require participants to sign an agreement outlining payment dates and amounts.  Missed payments will be considered a default on the agreement and any interest accrued will be applied to the tax payer’s account.

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Incentive 3 – Residential Property Tax Assistance Program

The Town will begin offering a brand new Residential Property Tax Assistance Program starting on January 1, 2025. Low income residents that qualified for the program will be granted a 25% tax reduction to their residential property taxes. To qualify for the program applicants must apply to the Town and meet one of the following criteria:

1. Be in receipt of the Guaranteed Income Supplement; or

2. Have a household income of less than $21,456.00 (single) or $51,408.00 (family).

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Incentive 4 – New Residential Construction

The New Home Construction Incentive Program provides new homeowners with a $0 property tax bill for the first 1-year of occupancy.  The incentive will be applied automatically by Town administrative staff and does not require an application for review.

Incentive 5 – New Businesses

Our New Business Tax Incentive Program will provide new and innovative businesses with a 1-year business tax exemption. The program requires an application for review and is applied at Council’s discretion.

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We look forward to continuing to provide our residents with quality services, recreational spaces and programming, and capital upgrades to our road network and storm water management infrastructure. 

If you have any questions about your upcoming tax invoice or would like more information about our incentive programs, please contact our helpful administration staff at info@townofbaybulls.com or (709) 334-3454.

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