 Pictou,
incorporated in 1874, is governed by a mayor and six councillors, who
appoint all town officers and employees. The various departments,
like finance, water, electric light, and streets are administered by
standing committees in cooperation with the council as a whole, which
this year consists of the following members: James W. Smith,
Mayor; Wm. Brennan, Presiding Councillor; who with Warren H. Pope
represents Ward I; T. A. McKay and F. B. A. Chipman, Ward II; W. D.
Smith and J. W. Murdock, Ward III, a body of representative business and
professional men, who are giving the town a progressive yet careful
administration.
For 1916 the assessed valuation of property in the town amounted to $1,184,990, while $54,575 was exempted from taxation. The rate of taxation is $2.90 on each hundred dollars, which, while somewhat high, is necessary on account of the low assessment, and the demands made on the town for patriotic purposes. The total town revenue, from all sources, during 1915, amounted to $75,602.17, out of which all expenses were met, leaving a small balance to its credit. In the year 1915 its assets were valued at $277,221.50, of which the water works amounted to $124,851.55, and the electric light plant $61,805.56. It has a gross bonded debt of $256,200.00. Of this sum, however, $177,900.00 are for water extension and electric light plant installation, two departments which are self supporting, and from the earnings of which the amounts devoted to interest and sinking funds are met. Deducting this sum, together with $15,422.86 sinking fund accumulation, from the gross debt of $256,200, leaves the town’s actual debt only $62,877.14, a sum amounting to little more than one-fourth of the town’s total assets to be met by general taxation, figures which show that the town financially, is in a flourishing condition. |