Burlington, Ont. finalized their municipal tax increase for 2024 with council declaring that spending will be directed toward “essentials, front-line services and growth.”
The city portion of the overall tax increase, approved by council Tuesday, is 4.99 per cent which likely will equate to a 6.68-per cent total increase for taxpayers, adding in Halton Region’s expected take and what several boards of education are seeking.
City staff estimate the number translates to about a $57.53 increase per $100,000 of an urban residential assessment.
Earlier in the month, Mayor Marianne Meed Ward said the bulk of the cash would take care of the “essentials” city staff are contractually obligated to handle, like infrastructure and “state of good repair.”
Some $88.6 million of capital investment is expected to be directed toward those initiatives upgrading buildings, roads and parks.
The province’s housing crisis and the accompanying 25-year plan for growth is also expected to impact taxpayers in the coming years with the city preparing to take on an adopted target of building 29,000 new homes by 2031.
“So we’ve invested significant amounts of dollars in streamlining our planning permit process, hiring more staff to meet that challenge, and invested in our Burlington Land Partnership, which is focused on land acquisition for the purpose of economic development, affordable housing or community amenities,” Meed Ward explained.
Ontario’s estimates suggest some 254,000 people will be living in Burlington by 2051.
Tuesday’s budget number is lower than what the city’s finance staff came up in a Financial Needs and Multi-year Forecast overview, which called for a 6.28 per cent increase for the city itself.
“It is our hope this budget sets us up for success in 2024 and for years to come in creating an inclusive, affordable, eco-friendly and caring community for all our neighbours,” Meed Ward and Deputy for Strategy and Budgets Paul Sharman said in a joint statement.
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