Oakville releases staff-prepared draft 2024 Budget and invites public input
Thursday, October 19, 2023
Staff presents budget with a 4.28 per cent overall tax increase
At the Town of Oakville Budget Committee meetings held this week, staff presented their draft 2024 operating and capital budgets. Staff also presented the forecasted operating increase for 2025 and 2026 and the 2024-2033 capital forecast. The staff-prepared draft budget is the starting point for additional public consultation ahead of November 20 when the proposed 2024 Budget will be provided to Town Council.
The staff-prepared draft 2024 budget has a 6.54 per cent increase to the town’s portion of the tax levy, for an overall property tax increase of 4.28 per cent when combined with the projected regional and educational tax levies. The 4.28 per cent increase comes well under the direction to staff to keep the overall increase at 4.5 per cent.
The draft 4.28 per cent increase, if adopted, would see residential property taxes increase by $32.54 per $100,000 of assessment meaning that the owner of a home assessed at $800,000 would pay an additional $260.32 per year or $5 per week.
The town’s draft 2024 Operating Budget of $405.1 million will support the delivery of a wide range of programs and services, including maintenance of roads and community facilities, fire services, transit, parks and trails, recreation and culture, seniors services, libraries, and others.
The Budget Committee also received the draft 2024 Capital Budget of $187.9 million to support infrastructure renewal, growth, and program initiatives. Some of the capital projects for 2024 include:
$22.8 million for new parks, parkettes and trails, and to rehabilitate and renew existing parks
$21.5 million for parkland acquisition for future park development
$18.9 million for transit electric vehicles and charging infrastructure
$14.1 million for construction of the permanent Fire Station 9 in North Oakville
$9.0 million for the road resurfacing and preservation program
$6.2 million for traffic management, traffic signal program, traffic calming and road safety program to promote safe travel and pedestrian safety on town roads
$5.4 million for Downtown Cultural Hub
$5.1 million for land for the design and construction of a snow storage facility
$5.0 million for land purchase for a future Trafalgar corridor north library
The annual budget process also includes a review of the town’s rates and fees for programs and services offered to the community (such as transit fares and recreation and culture program fees), and the estimated costs of administering and enforcing the Building Code Act and the Planning Act. The draft 2024 Rates and Fees have been adjusted to be in line with the User Fee Policy and are available on the Rates and Fees page.
Changes to Budget process
As a result of Bill 3, Strong Mayors, Building Homes Act, 2022, the town’s budget process and timeline have changed from previous years. The new process is in line with Ontario Regulation 530/22 subsections 7 to 9. Refer to the budget decision flowchart for more information. Key dates include:
October 20 to November 1: Budget Committee to consult with residents on draft budget
October 31 (morning) and November 1 (evening): Public delegations on draft budget
November 2: Budget Committee makes recommendations to Mayor
November 20: Mayor to provide proposed 2024 Budget to Council and public
November 28: Public delegations on Mayor’s proposed budget
December 20: Special Council Meeting to consider approval of the 2024 Budget
Public input on the staff-prepared draft budget can be provided to the respective Councillors, emailed to email@example.com, or by delegating to Budget Committee meetings that are also broadcasted on the town’s YouTube channel. Visit the 2024 Budget page for more information, including departmental presentations which will be posted this week.
“The draft budget is a starting point to increase our town’s vibrancy and livability as we invest in the services, programs and community infrastructure that residents tell us they want. As we hear more from residents through the upcoming public engagement opportunities, we will work together to deliver a budget that is focused on affordability, sustainability and growing our livability.”
- Mayor Rob Burton
“Councillors listened and heard from the community about priorities that mattered the most, and we are grateful for their insights. We look forward to hearing from all Oakville residents during the public delegation meetings to help shape the budget and create a stronger future for Oakville residents, businesses and community groups.”
- Town and Regional Councillor Sean O’Meara, 2024 Budget Committee Chair
“We look forward to an engaging budget discussion focused on sound fiscal approaches, strong infrastructure to meet population growth, and delivering high-quality programs that our community expects of us. I invite the public to review staff’s draft budget and have their say to shape our thriving future.”
- Town Councillor Marc Grant, 2024 Budget Committee Vice Chair