Town taxes could rise a little over f...

Town taxes could rise a little over four per cent

Posted in the Georgetown Forum

Milton residents

North Bay, Canada

#1 Dec 8, 2012
Town taxes could rise a little over four per cent
Milton residents could see a 4.1 per cent tax hike on the municipal portion of their property tax bill next year.
According to the proposed 2013 capital and operating budget and related staff-prepared reports that were handed out to councillors at last week’s council meeting, the average Milton rural resident and urban resident could pay an extra $12.21 and $13.16 per $100,000 of assessment on 2013 property taxes respectively or $42.74 and $46.06 on a home worth $350,000.
Councillors are currently reviewing capital and operating budget documents, which represent a combined investment of $160 million in the community, in preparation for budget committee meetings this Monday and Tuesday. The budget will go before council for final approval December 17.
The reports show a number of different tax hike scenarios from a 1 per cent increase to a 5 per cent increase.
The capital budget projects a $65 million investment in about 100 projects related to new infrastructure and the rehabilitation of existing assets like facilities, roads, bridges, parks and equipment.
Nearly two-thirds of that budget, about $41.7 million, would focus on the development and redevelopment of roads and traffic infrastructure. This includes projects like the continuation of the Main Street grade separation near Ontario Street, the construction of the CN crossing on Louis St. Laurent Avenue between Tremaine Road and Bronte Street and the asphalt overlay and surface treatment on various roads to prevent deterioration of the roadway and protect against major reconstruction.
The projects would be funded by development charges, reserves and reserve funds, GTA pooling funds (which end next year), debentures, the general tax levy and other funding sources.
The operating budget, which looks after the delivery of services required to meet the needs arising from growth in the community and to support the quality of life that residents expect, is projected at around $95 million. It’s divided among the departments at the Town, with engineering services, community services and planning and fire departments providing the most direct services to the community.
The operating budget would allot $22.9 million (25.4 per cent) to engineering services,$16.8 million (18.6 per cent) to community services, and $7.8 million (8.6 per cent) to fire services.
The Town’s portion of the property tax bill is 30 per cent. When combined with regional and educational components of residential taxes, accounting for 43 per cent and 27 per cent respectively, Miltonians could see an overall tax increase of 1.59 per cent in the urban area and 1.54 per cent in the rural area on their 2013 property

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