Vágur announces slight reduction in living expenses for 2025

Living expenses in Vágur will see a slight reduction next year.

During a city council meeting held on Friday evening, the local government approved a tax rate decrease of 0.2 percentage points, lowering it from 21.1% to 20.9%. This tax reduction is estimated to cost around half a million kroner, according to municipal estimates.

Meanwhile, the child allowance in Vágur Municipality will remain unchanged next year at 6,250 kroner per child.

According to the budget plan for 2025, the total revenue for the Municipality of Vágur is projected to be 78.4 million kroner in the upcoming year. Operating expenses are expected to be 72.9 million kroner, while investments will amount to six million kroner. These funds will be allocated for several improvements, including upgrades to Vágur School, lighting for the soccer field, minor enhancements in the harbor area, a wastewater project, and 550,000 kroner designated for paving and pedestrian paths.

The meeting on Friday, during which the budget for 2025 was finalized, was noted as the second to last for the current city council before new members are installed in the new year. The incoming council has yet to organize itself.