2 There's good news and there's bad news.

Strictly from the point of view of the city’s .
.. 1992 property tax levy, any increase will be’
very small, Add into the calculation the
_. now-defunct supplementary home owners’

_ hefty increase.

grant, however, and you might see a sig-

_. nificant increase in the bottom line... de-
' pending on the value of your home,

This was the basic message from Ter-

Face city council in announcing their 1992
— budget at noon Tuesday, Increases in prop-

. . erty taxes due to city budgeting alone will
~-s be-only about 1.81%, and the increase for —

ae business. is around 3.2%, for heavy indus-
-.. trial 3.2%, and for light industrial 4.09%.

Scrapping the. supplementary home

.. owners’ grant won't affect the latter three
1 eategories listed above, of course. But home

_ ‘owners within the confines of the City of ©
_ Terrace, be prepared: if the assessed value

of your home is $50;000 or more, expecta

Owners of homes with an assessed

~» value of around $65,000 will pay about

10% more, those with homes worth $80,000

- around 15% more, $100,000 around 18%

more and $200,000 about 24% more than
last year. : .

_ In other areas of the budget, a few
groups in town were more interested in
grants than taxes, Several have had their
hopes tossed into the draft budget over the

past several weeks, something which is -

often akin to purchasing a lottery ticket.

. . _ A case in point is the Kitimat Cross .
» Country Ski Club and their Onion Lake ski,

THIS IS GOING TO STING.
And in its budget presentation, =
_ the city makes sure we know who to blame

et
mae

trails, They asked the City of ‘Terrace for

$10,000 but came up dry, The city, appar-
ently believing the $50,000 rant they’
received from the Kitimat-Stikine Regional
District last December was more than
enough, declined their request,
Others. fared somewhat better: The
Aurora Summer Arts School asked for
$25,000 and got $15,000. Second sheet of

.1ce proponents wanted $27,000 for a study
and got $20,000. And there were those who.

got. exactly what they asked for. These

include the Terrace Beautification Society,

$11,300, the Terrace Arts Council, $15,000,

the Museum Society, $15,000, and the
_ Vandal Watch program, $1,000, a
Vandal Watch also got their $10,000-
seed money, but that’s something alittle
different and doesn't lie within the confines —

of the city budget. Think of it more as a

recoverable loan from which the beneficiary .

only lays claim to the interest,

_ Departmental budgets were trimmed —
then further refined. The fire department -
had to cut about $500,000 from their list,
public works around $100,000, Each de- .
partment, though, zets something, and how

wisely taxpayers money will be invested in
1992 is a matter each individual will have
to decide.

Of that, $555,443:

public works. a
$200,000 upgrade of Kenney St. from
Walsh Ave, to Hwy.-16. Other road con-

|, . Terrace Review — April 16, 1992 nn

Il be spent on.

,