The City of Kawartha Lakes has approved its 2023 budget which features a three per cent general tax levy increase.
The $326-million budget includes a 1.5 per cent dedicated infrastructure levy.
The municipality says overall for homeowners, it all represents an estimated $32 tax increase per $100,000 of assessed value on residential properties.
Carolyn Daynes, city treasurer, noted that the base budget is very close to the 2022 budget. She said with inflation costs exceeding seven per cent, staff were “diligent” in reducing budgets down to the three per cent mark.
Of the $326-million budget, $236 million is the operating budget with $57.7 million for capital projects. Capital spending will include $26.6 million for upgrades to roads and bridges, $6.1 million for landfill enhancements at Lindsay Ops and Somerville sites, and $3.1 million for two tanker trucks, a pumper truck and bunker gear for Kawartha Lakes Fire and Rescue.
Staffing makes up one-third of the municipality’s total operating budget.
“Enhanced interest income from investment of funds has resulted in an increase in the 2023 budget of over $3 million in revenue,” Daynes said. “With the prime interest rate increasing, those investments are generating significantly better returns. Growth in assessment is generating an additional $2 million in revenue.”
Mayor Doug Elmslie said he was pleased with what he called a “lean budget.”
“In a year when we’re seeing substantial increases across the board for goods and services ranging from construction contracts to equipment and fuel, I’m extremely pleased that we were able to hold the line at three per cent,” he said.
“There were decisions we had to make to keep the tax increases below the cost of living, and I thank staff and our various boards and committees for bringing in their requests with the taxpayer in mind. It is not an easy financial climate for anyone. We will look to future budgets to catch up on projects that can wait until interest rates are lower and we have the ability to finance them responsibly.”
Approximately $2.1 million has been allocated for special projects such as the Municipal Airport Business plan, Archeological Master Plan, Part 2 of the Cultural Centre Feasibility Study and the Parks and Recreation Strategic Plan. Other projects involve agencies and boards, such as the flood plain mapping with Kawartha Conservation and a “Next Generation 911” system led by the Kawartha Lakes Police Service in Lindsay.
“This year we have a number of exciting projects on the go to benefit the community, from the design of a new paramedic headquarters to the finishing touches on the downtown Omemee project,” Mayor Elmslie said. “We’re investing in our local parks, arenas and community centres, including a major renovation to the Coboconk wharf. We’re readying for the growth boom we’re seeing take place, while looking after today’s needs.
“As always, we’re investing heavily into our roads with almost $27 million going to roads capital projects. I’d like to thank our new council for their thoughtful study of the complexities of the budget and for working together to pass what I define as a lean budget.”
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