Costs and Cost Sharing
Local improvements are often carried out in conjunction with other major construction work in a neighbourhood. Since local improvements benefit a neighbourhood more than the municipality as a whole, a portion of these costs are covered by neighbourhood property owners.
If a neighbourhood opts for decorative streetlights, the property owners are responsible to pay 100 per cent of the cost over and above the cost of replacing the streetlights with standard galvanized poles.
Property owners have two payment options:
Lump sum payment: The full cost is paid at one time.
Local Improvement tax: The full cost is amortized over 15 years, the payments are added to your property taxes. Funding for these projects is borrowed from the Province, with the cost of borrowing is passed on to those who amortize their payments as interest. The tax stays with the property. Should you move, the payments become the responsibility of the new owner.