The City of Peterborough’s 2023 draft budget will now see a 3.15 per cent property tax rate, down from the initial proposed four per cent.
City council on Wednesday agreed to reduce the property rate following a series of finance committee meetings this week to review the municipal draft budget. Last week featured public delegations who provided feedback on the draft budget.
The city say the proposed increase of 3.15 per cent would equate to an additional $4.44 monthly or an additional $53.24 annually per $100,000 of residential assessment (at four per cent it was $5.63 monthly or an additional $67.61 annually).
The city also addressed a couple of initiatives to assist those experiencing homelessness.
The city will add a third worker to its 24-hour overflow emergency shelter program and the 24-hour Brock Mission men’s shelter by using $200,000 from the Social Services Reserve. The position will help individuals with better support for referrals to services and to assist with housing searches, develop more of a harm-reduction focus, address service restrictions differently, and other functions.
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However, council agreed to remove a plan to provide $55,000 a year to the Downtown Business Improvement Area (DBIA) for three years to support a new “systems navigator” staff position with the DBIA to help downtown businesses navigate social issues.
Other changes to the draft budget include:
- deferring a proposed $150,000 project for the next stage of the development of a Downtown Heritage Conservation District Plan; The project will be under consideration in the 2024 budget
- contributing up to $10,000 from the capital levy reserve for the creation of a monument recognizing the impact of occupational disease on individuals and families
City council also voted down a request from Peterborough Public Health for a 22.14 per cent funding increase for 2023. The health unit was seeking $1,644,880 — approximately $287,780 more than the city provided in the 2022 budget.
City council is expected to approve the 2023 budget on Jan. 30.
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