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Municipal tax levy up 2.1 per cent to fund over $2 million in spending increases

Posted November 30, 2017

New Tecumseth councillors have all but finalized a 2018 draft budget that proposes to spend $42 million, an increase of approximately $2 million, of which $31.6 million will be raised from taxation, a hike of $626,259 or 2.1 per cent over 2017.

The municipal portion of the residential tax bill on a home with an average assessment of $368,267, will increase approximately $42. When the estimated County and Education portion are factored in, the overall average increase is $68.48 or 1.96 per cent.

Operating revenues are projected at $10.8 million, up from $10.6 million.

The "major variances" chart impacting the budget shows an unfavorable deficit of $2.3 million, including an increase of $973,525 related to hikes in salaries, wages, benefits, COLA, and new staff impacts in 2018. $1.34 million in growth assessment, adjusts the variances to an unfavourable $765,409.

The 2018 budget proposes to add $6,253,400 in long term debt including: Road Improvement Program $912,100; Fire Station $1,841,300; and Town Administration Centre $3.5 million. That would lift total debt as of Dec. 31, 2018, to $73,665,890 of which development charges will cover $56.36 million or 76.5 per cent, and taxation of $17.31 million, 23.5 per cent.

The draft Capital Budget as proposed is for $39.48 million dollars. Carry forward/continuing projects include:

- Road Upgrade Program - various sections
- Tottenham Library
- New Park Developments - Beeton, Tottenham & Alliston
- Playground Equipment replacement
- Trail Development
- Tottenham Conservation Area upgrades
- Fleet / Equipment and Fire Apparatus acquisition & replacement
- Fire Station 4 - Alliston and related equipment
- Tottenham Water Transmission Main
- New Well Development
- Town Administration Centre
- Back-up generators - wastewater pumping stations.

The total cost of all projects proposed in 2018 is $$21.98 million, of which $10.26 million is from reserves, $5 million from DCs,, $6.2 in long term debt, the remainder from taxation.

The budget, the final one for this term of council, is expected to be ratified in January.

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All stories, unless otherwise noted,
by Tony Veltri