Homeowners will pay almost 6% more in taxes in Milton

By

Published December 5, 2023 at 1:38 pm

Taxes are going up. The average homeowner in Milton is going to be paying about $43 more per $100,000 of assessed value in 2024.

The decision was made at last night’s Town Council meeting that saw the 2024 budget finalized, representing an investment of $83.7 million in capital projects and $192.3 million through the operating budget to deliver programs and services to Milton’s growing community.

“Milton Council and staff worked hard on this budget to provide residents with the service they expect, while facing financial pressures like inflation,” said councillor Sameera Ali, the budget committee chair.

“This budget makes strategic investments in transit, fire services and community safety, traffic calming, road safety, quality facilities, effective services and planned community growth.

“With an estimated total property tax increase of 5.93 per cent, we continue to provide excellent service levels while keeping Milton taxes among the lowest in the GTHA. Thank you to all of the engaged Miltonians who shared their voices during this budget process.”

The 2024 budget advances the priorities of Council and the community by investing in:

  • People who deliver Town services
  • Innovation in technology and process
  • Quality facilities and amenities
  • Connected transit and mobility
  • Planned community growth

The 2024 capital portion of the budget represents an $83.7 million investment in 144 projects, including new infrastructure to support the Town’s growth and expansion, as well as the rehabilitation and replacement of existing infrastructure.

The operating portion provides $192.3 million for the day-to-day operations at the Town that deliver important services to our community. It provides the funding to deliver services such as fire, snow clearing, maintenance of roads and parks, transit, Milton Public Library, storm water pond maintenance, culture and recreation.

The total increase also includes the increases from Halton Region and the school boards. The Town of Milton’s services are 41 per cent of your overall tax bill.

This combination is often referred to as the blended property tax rate and is what a taxpayer will see on their property tax bill and results in the household impact.

Based on Milton’s 2024 budget, the overall increase to property taxes is estimated at 5.93 per cent, pending approval of the Halton Region and provincial education budgets.

Therefore, the average overall household property tax bill is estimated to increase in 2024 by $43.60 per $100,000 of residential assessment.

The average residential home in Milton assessed by the Municipal Property Assessment Corporation at $600,000 can expect to pay approximately $4,670.81 in total property taxes for 2024.

Milton continues to maintain one of the lowest overall property taxes in comparison to other local municipalities.

inhalton's Editorial Standards and Policies advertising