MINTO — Minto council has approved a lower tax increase in 2025 than previously proposed.
Approving a 4.4 per cent increase for 2025 at a Minto council meeting Tuesday evening, treasurer Gord Duff said this represents a $60 increase on the local tax bill for the average home assessed at $250,000 and does not include the county portion.
Combined with the county and education portion of the tax bill, Duff said the blended increase will be approximately 3.8 per cent.
The tax-supported operating budget will be $6,804,975 and will help maintain service levels. Duff previously said the biggest drivers of this year’s property tax increase are the four per cent cost of living adjustment raise for staff, higher cost of insurance premiums, higher cost of heat and hydro, and vehicle repairs.
The capital budget of $3,997,900 focuses on infrastructure renewal investments funded from a combination of tax-funded reserves, non-tax-funded reserves, development charges and grants.
Approximately $1.961 million will go to public works. Other projects highlighted include the Palmerston Fire Hall Renovation, Palmerston Main Street Engineering and Design, Harriston Pumping Station and pump upgrades, road and sidewalk reconstruction and various facility updates.
Tax-supported reserves and reserve funds are sitting at $5.25 million while non-tax supported reserve funds and obligatory reserve funds are at $7,042,665 and $2,560,054.
Last year, a 4.88 per cent increase meant an additional $24.36 on the average assessed home for the town’s portion of the tax bill.
Isabel Buckmaster is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
