The Town of Gander released its budget on Monday.

The overall operating budget for 2025 has matching revenues and expenditures totalling $22,456,628.

In 2025, our total debt is projected to be $26.7 million, with the debt servicing ratio reduced to 16.1%, down from 18% in 2024. This improvement underscores the effectiveness of our fiscal sustainability strategy.

This upcoming year, the mil rates will remain unchanged at 7.6 mils for residential properties and 7.7 mils for commercial properties. There has been an average increase in property values of approximately three percent.

There will also be no increase in service fees or business tax.

The town benefited from additional revenue streams, including new construction taxation, and earned interest generating $250,000 beyond general taxation.