Fiscal 2024/25 Budget Summary

Budget Highlights

• The Personal Property Tax Reduction amount for households with a total income below $46,000 increased by $50. Eligible applicants will now receive up to $560 in ratepayer relief.
• More than $3 million has been earmarked for Community Grants Programs that will benefit a wide range of organizations and individuals, including $254,000 in Funding to External Service Providers making unique services available to residents of the Municipality.
• An enhanced Capital Reserve contribution of $2 million will support long-term asset management plans and address the capital reserve deficit.
• An additional Operating Reserve contribution of $900,000 will help keep the account at pre-COVID levels and help offset unknown future costs related to ongoing Provincial Service Exchange negotiations.
• Assessment growth of 3.2% (CAP eligible properties), 5% (new housing construction, major renovations, etc.), and 10.3% (commercial properties) enabled the Municipality to manage inflationary pressures and significant increases to mandatory provincial payments for education and policing services (increases of $1,595,600 and $596,700 respectively).
• The budget allows for the creation of 3.5 new staffing positions to support development growth, increased demands for service, long-term municipal plans and the strategic priorities set by Municipal Council.
• Overall funding to fire departments providing service to the Municipality is increasing by 5.2% this fiscal year (from $2,689,555 to $2,829,700).

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