Tax rates are going down in the Municipality of Shelburne.

The residential rate will go down two cents, while the commercial tax is dropping by three cents.

Warden Penny Smith says it’s a challenging time for people to pay their property taxes.

“We feel the budget allows us to continue to maintain services our residents and businesses have come to expect, and at the same time invest in our community with our fiscal resources,” said Smith.

The budget is set at $9.5 million, with a capital budget of over $763,000.

Smith says their priorities include housing, healthcare, land-use planning, renewable energy and equity and diversity opportunities.

The new residential tax rate is $1.26 per $100 of assessment, and the commercial rate is $1.82 per $100 of assessment.

One cent of residential and resource generates $50,563; one cent commercial generates $4,086.

At the end of fiscal 2024-25, the Municipality’s total reserves will be nearly $5.4 million, once all projects are completed for the year.