WELLINGTON NORTH ‒ Staff are recommending a 5.87 per cent tax levy increase in the 2024 budget to balance the need for "continued investment in critical infrastructure and services" with "current financial realities."
In a report on the upcoming operating and capital budget being presented to council Monday, staff said the increase will result in a total levy requirement of $9,730,133 or $78.46 for a typical residential single-family dwelling.
That does not include the county portion of any tax increase.
The municipality had an 8.9 per cent tax levy increase in 2023 the largest increase of any Wellington County municipality that year.
"The aim of the annual budget is to focus and deliver on the values of council for the Township of Wellington North," said staff in the report. "The 2024 Operating and Capital Budget necessitates a tax levy increase to support the operating budget, addressing inflation and the need to maintain and enhance township services."
According to staff, the capital program for 2024 is "consistent with previous years" and totals $23,169,885 with $13.5 million allocated to the Arthur Wastewater Treatment Plant - Phase 2 Upgrade, which is primarily funded through user fees and does not impact the general tax levy.
Reserve contributions have also increased by $459,530 from the previous year, totalling $1,452,788.
The full report is available here.
Isabel Buckmaster is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
