Residents of Peterborough County could see their tax rate increase by nearly 4 per cent in 2018.
On Thursday, county director of finance and treasurer Trena DeBruijn presented a draft budget to council members. The budget proposes a tax rate increase, net of assessment growth, of 3.96 per cent.
For an average home in the county assessed at $249,500, that would mean the average home would be assessed an additional $28.12 more in county taxes, DeBruijn said.
In an email to CHEX News, she further explained that in 2017, the average median residential home within the County was assessed at $242,250 with taxes at $819.53 per annum.
The 2018 assessment at $249,500 will see the annum at $847.67 – up from $28.12 in 2017.
“We have presented a budget to County Council that we feel addresses the financial pressures on the County and the need for funding to address County infrastructure needs,” DeBruijn said.
The draft budget does not include financial contributions to external agencies, such as the Canadian Canoe Museum capital construction campaign.
“We directed staff to bring forward a responsible budget that was all encompassing,” said County Warden Joe Taylor. “County Council will now review the proposed budget in detail and determine the priorities for the County in the budget for 2018.”
Peterborough County council includes representatives from eight townships: Trent Lakes, Selwyn, Cavan Monaghan, Douro-Dummer, Havelock-Belmont-Methuen, North Kawartha, Otonabee-South Monaghan and Asphodel-Norwood.
Council will review the draft budget in depth at a special budget meeting set for March 7.
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