County budget approved, blows past $500 million in
Simcoe County councillors approved a 2018 budget this morning that
proposes to spend $510 million, requiring a tax levy of $157 million,
setting the average tax bill for County purposes to $297.60 per
$100,000 of assessment, an increase of one per cent.
In New Tecumseth the average residential assessment is $368,267. In
2017, New Tecumseth taxpayers contributed $16,118,430, in taxes to the
County, which represented 10.58 per cent of its total levy.
The County's more than 1,800 employees will see combined wages, and
benefits increases of more than $5.5 million.
Long term debt will climb to $172 million that will require $4.5
million in principal and interest payments in 2018. By year-end,
unfinanced DCs are projected to be $64.2 million, and $72 million for
unfinanced capital projects.
Included in the proposed capital projects is the road reconstruction of
1.5 km of King Street (Cty Rd 15) between Victoria Street and Essa Road
in Alliston. Phase one was the Allison bridge replacement. Several
culverts in the Beeton area (Cty Rd 1) will be replaced over two years
starting in 2018.