Tay Valley is planning ahead by increasing its contributions to reserves to fund future infrastructure projects and rising costs due to inflation. In 2025, the Township will put $1,908,204 into reserves, marking an increase of $66,850 over the 2024 budget.
These reserves are crucial for tackling infrastructure gaps and will help pay for important projects like road repairs, equipment upgrades, bridges, buildings, and recreational facilities. The Township says these funds will also support mandated initiatives, ensuring the community remains well-served as costs grow.
By continuing to invest in reserves, officials aim to avoid funding shortfalls for capital projects in the years to come. This forward-looking approach helps prepare for rising expenses while addressing the community’s long-term needs.
The increased contributions reflect the Township’s commitment to managing its assets responsibly while keeping services and infrastructure sustainable for future generations. The overall 7.37% tax increase will mean $115 more next year for a property assessed at $300K.