Here’s How Much Your Property Tax in Oakville Could Increase in the New Year
A new year means a new budget plan.
Here's everything you need to know about Oakville's 2019 proposed budget, starting with potential property tax increases.
Town staff recently presented Oakville's proposed 2019 operating and capital budgets to the Budget Committee with the goal of keeping the total property tax increase in line with inflation.
Town staff recommended a budget that would result in a 3.10 per cent increase to the town's portion of the tax bill, for an overall property tax increase of two per cent when combined with the estimated regional and educational tax levies.
This increase would result in residential property taxes increasing by $15.35 per $100,000 of assessment. Meaning that an owner of a home assessed at $800,000 would pay an additional $122.80 per year or $2.36 per week.
"The recommended budget ensures we invest in key areas while keeping our taxes in line with or lower than inflation and trending downward," Mayor Rob Burton, said in a recent Town of Oakville news release.
"It's a fiscally responsible budget that makes strategic investments in our community to enhance our infrastructure, while delivering the high-quality services our residents want and expect."
The town's Draft 2019 Operating Budget also recommends a $337.3 million gross operating budget which will support the delivery of a wide range of programs and services. These programs and services include: maintenance of roads and community facilities, fire services, transit, parks and trails, recreation and culture, senior services, libraries, and more.
The Budget Committee, according to the town's news release, also reviewed the town's Draft 2019 Capital Budget which sees $116.6 million in funding that will be invested in transportation, infrastructure renewal and other growth-related facilities.
Some major projects for the Town of Oakville in 2019 include the Lakeshore Road Reconstruction and Streetscape project, the ongoing construction of the South East Community Centre, the beginning of the construction of Fire Station 8 in the Palermo area, and the reconstruction of Speers Road west of Third Line to Fourth Line.
The town's annual Road Resurfacing Program, Emerald Ash Borer Management and Tree Renewal Program is also included in the 2019 budget.
The annual budget process also includes the Budget Committee's review of the town's rates and fees for programs and services offered to the community, as well as the predicted costs of administering and enforcing the Building Code Act and the Planning Act.
Lastly, the proposed 2019 budget looks at the impact of several pressures including: rising costs for various materials, supplies and utilities, increasing pressure on personnel budgets, and reductions to transit and planning revenues. Other pressures consist of the operating impacts from capital initiatives such as the full year cost for Trafalgar Park Community Centre, partial year cost for Sixteen Mile Branch Library, new parks and road infrastructure in North Oakville, as well as increased software costs related to new systems and rising maintenance fees.
The final recommended budget will be presented to council for approval on Jan. 28, 2019.
For more information, and to learn how you can get involved, visit the 2019 Budget page.
What do you think of this proposed budget?