Back to SearchThe Municipality has revenues or income from a variety of sources that it uses to pay for all of its expenses. It also tries to put money into a reserve fund or savings account to pay for things down the road. The Municipality’s annual expenses are millions of dollars with the largest revenue sources coming from taxes and user fees.
Taxes are billed to residents annually and are calculated based on the assessed value of their property provided by Municipal Property Assessment Corporation (MPAC) and then by applying a specific tax rate to the assessment. The tax rate that is used depends on what tax class your property is in.
User Fees are intended to cover the cost of providing a specific service. The largest user fees in Mississippi Mills are for water and sewer services, waste management, daycare, recreation and building services.
There are some other revenue sources that the Municipality has available such as Federal and Provincial grants, grants from the County of Lanark, development charges to assist with growth related expenses, interest on overdue taxes and water accounts, interest on investments and cash in the bank, and fees for other items like marriage licenses and other permits.
The Municipality tries to earn revenues to pay for all of its expenses, but Municipalities often see expenses increasing higher than inflation or expenses beyond their control. In addition, revenues fluctuate each year and grants have been on the decline. This means that Council often has to increase taxes and user fees to meet their obligations.
