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Simcoe County year end surplus tagged at $4 million

Posted May 17, 2017

Growth in communities of New Tecumseth, Bradford West Gwillimbury, and Innisfil contributed the bulk of an additional $1.34 million in property tax revenues pushing Simcoe County's year end surplus to $4 million.

New Tecumseth led the County in assessment growth in 2016 at 4.94 per cent, which was up from 3.58 per cent in 2015.

The County had estimated supplementary taxes at $2.3 million, which "In 2016, a new unanticipated high was reached at $3.5M," according to the year end financial report.

Other factors contributing to the higher than forecast surplus, reduced gas and diesel fuel costs ($815K), savings in salaries and benefits ($609K), WSIB NEER credit ($613K) and proceeds from sales of assets ($629K).

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by Tony Veltri
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