This year’s budget includes modest tax increases needed to maintain high levels of service to residents.
Monday, June 16th, 2025 - Yarmouth, N.S. – At the June 12th meeting, the operational budget for 2025-26 fiscal year was discussed and approved by council. This year’s budget forecasts revenues in the amount of $21,520,064 and expenses of $21,310,064 for a surplus of $210,000 for its general operations for the year ending March 31st, 2026. The budget also includes a modest residential and commercial tax rate increase needed to maintain high levels of service to residents.
In recent years, rising costs and inflation have impacted every town department and service. Yarmouth is not unique - this is a trend across the entire province and indeed the country. Staff has been faced with the challenge of continuing to provide a high level of service to residents, while keeping those services within budget. While this approach has been successful, continued cost increases have made it much more difficult to maintain.
For example, over the last fiscal year alone:
• Winter street salting costs rose by 119% or $189,000
• Insurance costs increased 5.4% or $21,755 (total insurance bill of $555,000)
• Education costs increased 7.4% or $115,000
• Policing is up 8% or $205,000
In addition, wastewater treatment costs rose by 23% for chemicals, 14.0% for treatment plant fuels, and maintenance and supplies were up by 52%.
To counter these and other increased costs, council approved tax rate increases of 1.2% (2 cents) for residential and 0.9% (4 cents) for commercial. As an example of what this rate increase translates to for property owners, for a residential taxable assessment of $200,000, the 1% (2 cents) rate increase equates to a $40 increase for the year, or $3.33 per month.
“There is no question that inflation has hit us all. The Town is very fortunate to have a staff that works tremendously hard to find every way to cost save, and a Council whose wish is to hold the line as long as possible, especially given the economics of the day. While we’ve continued to provide high levels of service to our community, and are proud to continue in this manner, the increases noted above, along with increases across the board in every department, has made this small increase necessary. Times are difficult for so many, and we will keep working on ways to lessen the burden while still maintaining our high quality of service to residents, businesses and organizations that call Yarmouth home.” – Mayor Pam Mood
2025-26 Operational Budget Highlights & Rates
• The budget has revenues of $21,520,064 and expenses of $21,310,064 for a surplus of $210,000.
• As per the last 15 years, the town continues to set aside funds in reserves for depreciation in the budget, this year in the amount of $2,300,000.
• This year’s budget provides over $5 million in capital projects, without adding any debt.
• Tax rates - Residential $1.71 (increase of 1.2% or 2 cents) and Commercial $4.35 (increase of 0.9% or 4 cents)
• As of December 2024, Town of Yarmouth Transit is now free, providing a valuable, accessible service that benefits seniors, students, residents, and visitors.
• The low-income tax rebate is being offered again this year, offering assistance for applicable homeowners. The rebate program is budgeted at $26,000.
• Garbage rate is $205 per residential unit – no increase over the prior year. The town collects residential waste for buildings with up to 4 units.
• Interest on overdue tax accounts remains at 14%.
• Residential Tax assessments increased 5.4%, however most residential properties – 79.6% - are capped at 1.5%. Commercial assessments are up 0.99%.
• Continued support for downtown businesses: tax phase-in rebates budgeted at nearly $50,000 and Facade Program funding of $15,000.
• Green energy revenues budgeted at $105,500
The full 2025-26 operational budget can be found at: https://www.townofyarmouth.ca/departments/finance/annual-budget.html