PUSLINCH – The township’s director of finance presented what may be the final version of Puslinch’s 2023 budget at a public meeting on Jan. 25 and it’s looking like a 4.5% tax increase for residential homes.
While a snowstorm forced the meeting to go virtual rather than in-person, it did go ahead, although no members of the public had questions or comments for staff or council.
That current draft budget would mean an additional $48 per $100,000 of assessment on the township portion of the tax bill, explained finance director Mary Hasan.
Farm properties will see a 3.6% increase in the township portion of their taxes; small retail commercial properties will see a 3.6% increase; and standard industrial properties will pay 16.9% more.
The proposed budget includes nearly $5 million in capital projects, with a capital levy of $1.3 million and an operating levy of $3.6 million.
The levy is the total amount the municipality needs to raise through taxation.
The remainder of the budget is covered by grants and spending from reserves.
“This is a good budget in terms of the percent change,” Hasan said, noting inflation and rising fuel and calcium costs are much higher than the proposed tax increase.
Hasan also commended council for shifting money into reserve accounts.
“Reserves are increasing year over year, which is excellent for the township,” she said.
The proposed budget was not approved at the meeting. Council meets again on Feb. 8 where the final budget is expected to be passed.
The township still welcomes comments at EngagePuslinch.ca until Jan. 31 at noon.
