Here's How Much Taxes Are About to Climb in Milton
Milton is growing and building - with major projects such as the Sherwood Community Centre and Library, and the new fire station - and its 2018 budget takes these initiatives into account.
Town council ratified the 2018 budget on Dec. 11.
It contains $73 million in capital projects and $127 million in expenditures for programs and services residents use daily through the operating budget.
The $127 million operating budget was approved and Milton’s portion of the tax bill is going up 5.6 per cent.
For homeowners in Milton, the property tax increase resulting from the 2018 budget is an additional $13.64 per $100,000 of residential assessment.
An overall property tax increase of 2.72 per cent has been approved. Combined with estimated changes at the Region and school board, the average household would see an estimated overall 2.72 per cent change from 2017 property taxes, or $19.63 per $100,000.
Milton’s budget accounts for 1.89 per cent of the 2.72 per cent total.
“This budget aligns with feedback from Milton taxpayers and focuses on the redevelopment and expansion of the transportation network, as well as economic development,” said deputy CAO and chief financial officer Linda Leeds.
“The 2018 budget preserves existing service levels, plans for growth and begins to address the long-term financing requirements for asset renewal.”
The budget supports Milton’s Strategic Action Plan, Destiny Milton 3, through continued construction of the Sherwood Community Centre and Library, the addition of a new Fire Station, and ongoing planning for the Milton Education Village and Sustainable Halton Lands.
The budget also eliminates the dedicated hospital levy by providing funding for future debt payments from Ontario Lottery and Gaming Corporation revenue.
Fire Station no. 5 is scheduled to open in 2019.
Infrastructure projects include widening and reconstruction of Main St. from James Snow Pkwy. to Fifth Line, the reconstruction and expansion of Bronte St. from Main St. to Victoria St., and widening of Louis St. Laurent from Vickerman Way to Thompson Road to four lanes.
Click here for more information on the 2018 Town of Milton budget.