Residential rate down one cent, commercial down two cents
PARRSBORO – On the same night that audited statements showed the municipality to be in healthy financial shape, Parrsboro Mayor Lois Smith announced that it has lowered taxes for the current fiscal year.
The town has lowered its residential tax rate by once cent to $1.99 per $100 of assessed value, while its commercial rate has been lowered by two cents to $4.13 per $100 of assessed value.
“We run a tight ship, we really do and we try to do everything we can for the people in Parrsboro,” said the mayor, during its Sept. 24 monthly session.
She said they are not planning “anything too major” in the way of expenditures this year, but that they would like to continue with the Main Street project, after what was considered to be a great summer. Main Street merchant Ian Black, who was in the audience at the meeting, confirmed that it was a very good season this year.
“We are concerned about the people who live here – we live here too – and we want to do our best,” said the mayor. “So we were very pleased (to lower taxes), once we crunched the numbers. It would have been nice if we could have done more. Try a little bit each year, and try to hold the line.”
In particular, she said they hope to help business people by lowering the commercial rate by two cents.
During the same meeting, council approved the transfer of $11,582 from operating reserves to its economic development committee. Although not specific about what the money will be used for, CAO Ray Hickey said the purpose was to have it available should the town choose to hire someone to work on economic development initiatives outside of the tourism-focused projects already worked on this year.
“It was a great success with the Main Street project in terms of hiring a Main Street co-ordinator and special projects co-ordinator,” said Hickey. “There was interest from the town council expressed in looking at something similar on non-tourism-related business development. The plans for that are indefinite, but there was a desire to put money aside from reserves to potentially spend money on that.”