From The Gazette

Vaudreuil-Dorion

City posts $5 million surplus

  • Homes in Vaudreuil-Dorion jumped by 17.8 per cent
    Homes in Vaudreuil-Dorion jumped by 17.8 per cent
    Photo credit: Frederic Hoare/The Gazette

Vaudreuil-Dorion got more revenue from home sales than it had expected, leading to a $5 million budgetary surplus.

The surplus was announced at Monday night’s council meeting as Mayor Guy Pilon submitted his annual report on the city’s finances.

“We had more transactions than we budgeted for,” he said. “We have to plan, so we prefer to be very conservative in our estimates.”

He explained the city gets a payment any time someone sells a house or buys a new one. The money will be put into a reserve fund for unexpected occurrences, Pilon said.

That wasn’t the only good news for residents at the council meeting. The city also deposited its three-year valuation role, which shows properties continuing to increase at a steady rate. The average value of a single-family home rose 17.8 per cent in the city, over the last three years, which was about the same increase from the three previous years.

The average value of a home now stands at $276,496, and the total value of all properties is $4.3 billion.

Pilon said the city will decrease its mill rate to reflect the new values. The mill rate is the tax rate calculated as a percentage of the value of a person’s home.

The city also announced Monday night that it was lifting its ban on watering lawns.

“So you can go home tonight and water your grass,” Pilon said with a smile.

The city had put in place a ban this summer against watering all old lawns. It permitted watering for new grass and flower beds. Dramatically low water levels, high demand, and a water plant built in need of an update were the reasons behind the ban.

The city is working on updating the capacity of its water plant, and temporary relief will come next summer. By 2014, the capacity of the plant is expected to more than double

jmagder@montrealgazette.com
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