The 2012 Mississippi Mills town budget has been passed with a 7.8% local tax increase. The Town now has an accumulated debt of 16 million dollars. BMA consultants have advised the town that it needs to put more money into reserves and capital projects to cover the cost of depreciating capital assets: such items as roads, bridges, buildings, sidewalks, street lights. The town also needs to budget $54 million over 20 years to cover replacement and repairs, an amount that averages $2.7 million annually. For a comment on the budget see Councillor's Shaun McLaughlin's article at http://www.millstonenews.com/2012/03/budget-2012-final.html
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