Sherbrooke, Magog adopt 2023 operating budgets

Sherbrooke, Magog adopt 2023 operating budgets

By Gordon Lambie


The City of Sherbrooke presented its 2023 operating budget last week, outlining a plan totalling $400.1 million, $27.8 million more than the previous year.

Speaking with media about the budget on Tuesday afternoon, Sherbrooke Mayor Évelyne Beaudin called it a budget with “no surprises” based on the fact that the majority of the planning process was held in public council sessions.

Sherbrooke homeowners will see their property taxes increase by three per cent in the coming year, a change which represents $88 more for the owner of a single-family home of average value in the city ($259,697.) The increase is slightly lower in the case of sixplexes, at 2.88 per cent, and very slightly higher, at 3.1 per cent for a vacant lot.

In order to meet the commitment of keeping the tax increase at three per cent, the council has opted to increase a number of fees as well as implement some others. Notably, the city will be implementing a new tax bracket for offices and commercial properties with a value in excess of $750,000. Whereas businesses with a commercial or office space of a value less than $750,000 will be taxed at a rate of $2,2378 per $100 of evaluation, those that surpass will have the part of their evaluation that exceeds $750,000 taxed at $2,4101 per $100. Through this new tax bracket, the city expects to accumulate an additional $3 million.

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