A proposed property tax increase of 3.76% will be featured in a budget overview presentation at Monday night's general committee meeting at city hall.
That increase translates into a $145 hike for the average home assessed at $302,000 for a total property tax bill of $3,992.
The business plan also proposes a 2.5% increase in water rates and a 5% rise for wastewater charges.
The overview outlines five building blocks of the 2017 budget: maintain current service levels, debt and reserve management, service partners, new investment and service and 1% infrastructure renewal plan.
The city will generate $305.9 million from sources of operating revenue this year, the bulk of it through the $220 million collected from the tax fee.
This year’s proposed $156-million capital budget includes spending on a raft of projects.
They include key water main and sewer projects for annexed lands from Innisfil, Highway 400 projects, completion of Centennial and Military Heritage Parks, renewal for four of the city's oldest neighbourhoods, city hall parking garage rehabilitation, a first responders’ campus, Main Library HVAC equipment and Morrow Road and Mapleview Drive East construction.
The budget will receive 'anticipated council approval' on Feb.13 but residents with questions should contact
[email protected]
