City of Hamilton passes new budget with 5.85% tax increase
Published March 30, 2023 at 11:36 am
Hamilton residents will see a 5.85 per cent tax increase in 2023 compared to the previous year. City Council approved the $1.07-billion operating budget on Wednesday, which initially came with a 6.7 per cent increase before a reduction amendment from Mayor Andrea Horwath earlier this week.
“I have heard from Hamiltonians across the city about the affordability challenges they are facing every day,” stated Horwath. “From skyrocketing grocery bills, housing costs and other everyday essentials, there is no doubt that some folks are struggling financially.”
“At the same time, I recognize the urgent need for increased services and support for people living in our city, and I am very happy with the many investments council is making in this budget to directly support the people of Hamilton.”
The City of Hamilton says 2.5 per cent of this year’s increase accounts for the increased costs of running existing services. The remainder will go towards service enhancements, including “housing and housing-related supports, transportation and mobility, and health and safety.”
“Hamiltonians made it clear that they wanted us to find ways to reduce the tax increase while also investing in critical infrastructure and services, and I share those priorities,” Horwath added. “To that end, this budget includes investments in housing, health, infrastructure, and transportation that will build a city that delivers greater prosperity and a better standard of living for all.”
Wednesday’s council meeting can be viewed below:
Hamilton will spend $70.1 million on housing alone; an increase of 30 per cent compared to last year’s budget.
Transportation-related funding will be boosted with an additional 8 per cent going to Hamilton Street Railway (HSR), a large portion of which is being allocated to 49,000 additional hours of service.
Hamilton Paramedic Service will see a 16 per cent boost in funding to accommodate increasing calls for service.
The City has also earmarked $1.1 million for infrastructure, which staff says will aid in “prioritizing which roads, bridges and other core infrastructure needs repair or replacement.”
Hamilton’s tax increase is in line with neighbouring municipalities. Burlington, Oakville, and Toronto are increasing taxes between 7 and 7.5 per cent, while Mississauga residents will see a 5.3 per cent increase in 2023.
The city’s tax operating budget is funded through property tax collected from residential, commercial, and industrial properties. It’s then allocated to all municipal and provincially shared services.
More information is available on the City of Hamilton website.insauga's Editorial Standards and Policies advertising