WELLINGTON NORTH ‒ An updated version of next year's budget now proposes a 4.94 per cent tax levy increase in 2024.
This follows council direction during a previous meeting about the proposed budget where Mayor Andy Lennox shared he'd like to see staff strive to get the budget below five per cent.
The new report now reflects a total levy requirement of $9,646,763 or a property tax increase of $65.77 for a standard residential single-family dwelling valued at $271,636 and will be presented at a special council meeting Wednesday evening.
An original draft of the 2024 budget proposed a 5.87 per cent increase.
"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 001 services," said the updated report. "Township staff have employed a diversified funding strategy to the 2024 Capital Program, minimizing the tax levy impact."
In 2023, the municipality had the largest increase of any Wellington County municipality at 8.9 per cent.
The full report is available here.
Isabel Buckmaster is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
