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The debate was held at the Roxburgh Town Hall on Saturday evening in front of an audience of 140.
Mayor Tim's team-mates were former MP and Otago regional councillor Gerry Eckhoff, of Alexandra, and Roxburgh East farmer Janet McDonald.
Mayor Bryan's team-mates were Raes Junction farmer Glen Perkins and Barbara Cowley, of Invercargill.
Dave Ramsay, of Alexandra, was the adjudicator and awarded the debate to Mayor Tim's team, by two points.
Teviot Valley Rest Home governing committee chairman Alex Gordon said they were delighted with the amount raised.
"It is a great figure,'' Mr Gordon said.
He said the evening had been "hilarious''.
Mayor Tim apologised for his brother, and said he got a job in the M and M factory before he became mayor, but threw out all the Ws.
The money will go towards the rest-home's five-bedroom extension and covered access way.
Several silent auctions of donated prizes were held and even the table decorations were sold.
The naming rights to one of the new bedrooms went for $10,000.