MINTO – During its last meeting of the year on Dec. 17, Minto council unanimously approved the town’s 2025 budget.
The budget includes a 6.5 per cent tax levy increase, as discussed at a Nov. 26 meeting.
This translates to a preliminary annual tax increase for Minto purposes of just over $60 or $5 per month, which means an increase of 4.5% on an average house assessed at $250,000.
“We can’t do the final tax rates until the county has completed their tax policies for ratios and assessment classes and that’s usually near the end of April,” town treasurer Gordon Duff told council.
The 2025 tax-supported operating budget represents the culmination of “several months of work” undertaken by town staff, states the Dec. 17 finance report.
The budget was prepared considering the following:
- town financial policies;
- principals of predictability and reliability for the community;
- budget estimates based on historical multi-year actuals;
- targets for contingency and reserves that protect the town in an emergency and allow for strategic replacement and investment in infrastructure;
- legislative requirements;
- approved levels of service; and
- internal continuous improvement and efficiency efforts.
“The budget is based on a forecast that ensures the town’s financial position continues to remain strong,” states the report.
The approved tax supported operating budget totals around $6.8 million.
The non-tax supported budget, which includes water and wastewater services, totals at just under $5.4 million and the capital budget just under $4 million.
According to the report, $4 million of the $16-million budget will be dedicated to improving the overall condition of town assets, such as investments in infrastructure renewal.
This diagram provides a breakdown of the 2025 capital funding sources. Town of Minto budget agenda image
The past
Last year council approved a 2024 budget with a 4.4% levy increase and a tax rate increase of 1.74%.
That translated into an additional $9.33 in taxes per $100,000 of assessment or $23 for the average residential property owner.
In 2023 the tax levy increase was 4.9%, with a tax rate increase of 1.88%.
Big-ticket items
Anticipated capital projects for 2025 have been categorized into three priority levels.
The “priority one” budget costs from each department include:
- public works: 8th and 10th Line paving for $660,000;
- economic development: Harriston Industrial Park servicing, $190,000;
- water (non-taxable): well exploration, $165,000;
- community services: recreation facility repairs/upgrades, $145,000;
- wastewater (non-taxable): pumps and valves, $90,000;
- fire and emergency services: rescue equipment, $60,000;
- people and property: generator purchases, $50,000; and
- administration: computers and software, $35,000.
Council ended the meeting with unanimous approval of the budget and a rendition of We Wish You a Merry Christmas.
