MAPLETON – Township council has adopted a three-year operating budget that includes a 2024 levy increase of 4.27 per cent.
The 2024 budget includes a tax rate increase of 3.48% meaning the average residential ratepayer will pay an additional $17.41 per $100,000 worth of assessment.
Those figures are separate from any increase in the County of Wellington levy or education portion of local tax bills.
The budget, approved by council at the Nov. 28 meeting, would see a levy increase of 4.27% in 2024, followed by increases of 3.55% in 2025 and 4.38% in 2026.
For 2024, the budget calls for about $16.8 million in total spending against just under $7 million in revenues, leaving about $9.9 million to be raised through the local tax levy.
The budget estimates expenditures of about $10.8 million on capital projects in 2024 and projected capital spending of $82.8 million over the next 10 years.
“This forecast is only a reasonable estimate and is subject to change and will be reviewed each year as the budget is readopted,” director of finance John Morrison cautions in a report.
“I think it’s a thoughtful, responsible budget with levy increases that are palatable and that means something to everybody.”
The capital budget includes spending of:
- about $6.8 million on water and wastewater;
- approximately $2.8 million on roads and sidewalks;
- $1.5 million on bridges and culverts;
- $765,000 on vehicle fleet and equipment;
- $455,000 on facilities;
- $22,800 on parks;
- $14,460 on fire services; and
- $316,108 on other assets.
