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Draft budget hikes average tax bill by $51 for local share

Posted November 13, 2017

New Tecumseth councillors will meet Wednesday morning for a presentation of the 2018 draft municipal budget which proposes to spend $42 million, an increase of approximately $2 million over 2017.

Operating revenues are projected at $10.8 million, up from $10.6 million, leaving a shortfall that will require $31.6 million in taxes, a 2.59 per cent hike, which for municipal purposes, adds an average of $50.96 on a home with an assessed value of $368,267 - itself up 6.5 per cent over 2017.

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 debt by Dec. 31, 2017 is $71,622,059.

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, and a taxation impact of $469,850.

In September, councillors voted not to approve the 2018 budget until January.

Click to view the full budget package

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All stories, unless otherwise noted,
by Tony Veltri