Peterborough County council has endorsed the 2024 budget with a 6.29 per cent taxy levy, which equates to a 5.69 per cent tax rate increase for a homeowner.
The tax rate increase is approximately $21.81 for every $100,000 in residential assessment. It’s down from the initial 6.6 per cent proposed during budget meetings earlier this month.
The county includes the townships of Selwyn, Asphodel-Norwood, Douro-Dummer, Cavan-Monaghan, Havelock-Belmont-Methuen and North Kawartha, and the Municipality of Trent Lakes.
The county says staff were tasked with presenting a budget that is both “responsible and comprehensive.”
“They successfully fulfilled that mandate,” stated County warden Bonnie Clark. “This budget will enable the County to tackle both operational and capital infrastructure needs, all while managing the challenges of inflation and the cost of living that persistently affect our ratepayers as well as the County’s operations, finances, and those of our service provider partners.”
The levy increase of 6.29 per cent includes a dedicated infrastructure levy set at 2.5 per cent, an increase of 2.57 per cent for the operating budget and an increase of 1.22 per cent for the shared services budget.
The budget noted the tax increase was impacted by several factors including rising staff salaries and benefits due to inflation, share services and roadway repairs.
More to come…