If the final 2023 budget draft is approved as is, the median homeowner, with a house valued at $157,000, will be paying roughly $82 more in property taxes this year.
The final draft has been created and is being presented to council next week, with an overall property tax rate increase of 3.17 percent.
That’s slightly higher than what was proposed in the last draft budget, which would have seen a 3.1 percent tax rate increase this year compared to 2022.
According to a staff report from Chief Administrative Officer and Treasurer Matthew Armstrong, the change comes from an increase in Prescott’s financial contribution to the St. Lawrence Lodge, a long-term care home jointly owned by it, the Town of Gananoque, the City of Brockville, and the United Counties of Leeds and Grenville.
Council will vote on whether to approve the budget at their next meeting on Monday, March 20th. You can view a detailed breakdown of it on the Town of Prescott website.