Town of Riverview / News / Council approves 2021 municipal budget

Council approves 2021 municipal budget

RIVERVIEW (N.B.) The 2021 Riverview budget is officially set.

At a special council meeting this afternoon, Riverview Town Council passed the General Operating Fund, Utility Operating Fund, and 2021 Capital Budgets totaling $49,821,631. Within those budgets, $8,195,788 is allocated to general capital projects and $2,700,000 will fund water and sewer capital projects:

  • The budget maintains the municipal tax rate at the same level as 2020. The property tax rate will remain at 1.5926 per $100 of assessment, which equates to a tax bill of $2,388 for a home valued at $150,000.
  • Water and Sewer bills will remain the same at $904.00.
  • The Province of New Brunswick has officially provided the Town with its assessment base total for 2021 and it represents a 2.83% increase over our amount from 2020. The Ten-Year Financial Plan assumed a 2% increase.
  • The Town’s Equalization Grant from the Province of New Brunswick in 2021 will be $2,521,193.
  • Notable capital infrastructure investments in 2021 include phase one of improvements to Montgomery Avenue including underground sewer and water lines, as well as watermain renewal projects at Lakeside Drive and Pitt Street.
  • The Town’s street paving program will continue with the following streets: Hebron, Cosburn, Nowlan, Belfast, Sanford and Irving (Callowhill to Lawson).

Town of Riverview Mayor Ann Seamans said: “It was a priority of council to hold the tax rate and utility rate in a year that has seen the ongoing COVID-19 pandemic have a significant impact on the economy.

‘I’m pleased this has been achieved while maintaining a continued commitment to the ten-year capital plan to invest in infrastructure renewal.”

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