Initial budget shows Milton ratepayers face 4.36% tax increase in 2023

Milton | Halton | Ontario | Community | Latest News | Politics |

By

Published November 17, 2022 at 1:35 pm

milton town hall

Ratepayers in Milton face an increase of $30 per $100,000 of assessed property next year according to initial budget estimates.

Based on these figures, the preliminary budget report shows an overall increase of 4.26 per cent in 2023 in total taxes which comes to $733.44 on the $100,000 assessed property. Of the increase, 3.09 per cent comes from Milton which is blended with the estimates for Halton Region and for educational purposes.

This chart shows the estimated tax increases based on property assessment:

While Town staff and Milton’s newly-elected council will have plenty of opportunity to make changes, at this point the total operating budget currently sits at $183.8 million, of which property taxes cover a large portion, with the rest comprised of provincial grants and subsidies and user fees for Town services.

Further, $63 million is being earmarked for 131 capital projects.

The initial budget report goes on to set four goals for the town, with the top priority to accommodate growth while managing service and infrastructure demands and balancing taxpayer affordability.

As well, the budget calls for seeking new revenue streams and looks to make Milton attractive for business investors and skilled workers. The Town also wants to deliver services that address increased expectations and service requests of residents and manage the need for new investment,

In the budget report, Mayor Gord Krantz said he looks forward to making Milton a place where there is abundant economic opportunities for residents and educational opportunities for young people.

“Now, more than ever, we know that uncertainty is the only thing that is certain,” Krantz said. “We will remain proactive and adapt our strategies as new realities unfold. We will continue to deliver the services that matter to residents and ensure the financial health of our community.

“Above all, we will listen to our local residents and businesses and, together with our employees, we will continue to ensure Milton is a great place to work and raise a family.”

 

 

 

 

insauga's Editorial Standards and Policies advertising