NEWS RELEASE
TOWNSHIP OF SPRINGWATER
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Springwater council officially adopted the township’s 2023-24 budget and business plan at a meeting held on Feb. 15.
The township’s 2023 budget was approved with a 5.65% net tax increase over 2022 rates. When combined with the County of Simcoe approved tax increase of 3.5 per cent and the education rate which has remained neutral, residents can expect to see a 3.91 per cent blended tax increase on their 2023 tax bill.
For an average home in Springwater assessed at $493,000, the approved blended rate amounts to a $161.96 increase over 2022 levels, or $13.50 a month.
For every tax dollar spent:
- $0.49 is retained by the Township of Springwater
- $0.33 goes to the County of Simcoe; and
- $0.18 goes towards education.
Council also approved a two per cent increase to water rates and a five per cent increase to wastewater rates. For a typical Springwater home consuming 180 cubic metres of water annually, the water/wastewater bill will increase by $57 annually, or $4.75 a month.
New this year was the introduction of a multi-year budget. Council approved the 2023 budget and approved the 2024 budget ‘in principle’. Council will have a chance to review and officially adopt the 2024 budget during deliberations anticipated to occur later this year. The introduction of a multi-year budget provides an opportunity for staff to provide a longer-range operating perspective.
The budget includes gross expenditures of $50.1 million comprised of $23.4 million in tax-supported operating expenses, $21.2 million in capital expenses, $3 million for water operations and $2.5 million for wastewater operations.
The 2023 budget includes a $7.7-million investment in Springwater Fire Station No. 2, which will be located at the corner of Bayfield Street North and Snow Valley Road, as part of the new Community Hub project. Additionally, residents can expect to see road, traffic and infrastructure improvements throughout the township and will receive the same or improved levels of service with respect to fire and emergency services, winter road maintenance, libraries, planning, building services, recreation and bylaw enforcement.
Since 2016, the operating budget has included one per cent to support capital infrastructure. This year, staff recommended an additional one per cent to reduce the infrastructure gap identified in the township’s 2022 asset management plan. Council brought forward and approved a motion to amend the increase to two per cent, for an overall three per cent contribution to reserves. These funds will be dedicated to the future replacement of roads, bridges, fleet, facilities and parks.
“This budget continues to move the municipality forward by ensuring service levels are sustained or enhanced, infrastructure is being maintained and we are preparing for the growth that we are currently experiencing and will continue to see over the coming years,” says Mayor Jennifer Coughlin. “This budget provides staff with the resources they need to do their jobs effectively; whether it be through the approval of new positions or by providing them with new equipment and tools to make their jobs more efficient.”
To learn more about Springwater’s budget, please visit springwater.ca/Budget
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