NORD Tax Requistions 2010 (Proposed)

Don Quixote Note:
The first two charts are the proposed Nord Tax Requisitions for 2010 for Vernon and Coldstream. The net result is a 1% tax increase for Vernon taxpayers and a 2% Tax decrease for Coldstream.taxpayers.

(Because some of the major services such as the multi-plex , community theatre and parks and rec. are assessed on improvements only and NOT on land the individual taxbill may vary considerably depending on your properties mix of land and improvements.) Last year 87% on Improvements only, 11% on BOTH land & Improvements and the remaining 2% on Land Only. (mostly SIR program)

The major change for the Multi-Use Facility (shown in 3rd image) from initial presentation was that the GVSC directors unanimously agreed to reduce the amount been set aside for future reserves from $408,967 to $200,000. This effectively helped the taxes to be decreased in Vernon from 2.5% to 1.0% and Coldstream from a small .006% tax decrease to its final projected tax decrease of 2%

This seems to be in response to the posting at Reserve Policy to be Addressed at NORD & GVSC by Politicians. Nov 15,2009. This will bring the Reserves in the Multi-use Facility to $1,561,079 and the curtailment of the transfer to reserve this year is a start to developing a valid reserve amount for operating, & equipment reserves in the future.

Also when the Vernon Requisition is examined closely there is a return of $101,243 for Ec. development and the winding up costs for GVS of $55,060 that total $156,303 tax reduction that even when offset by the $70,759 increase in General Governance results in a net $85,444 tax decease. Almost 1% (.9%). This is a 1 time return that benefits this years taxpayer.