Oakville is committed to offering valued services and programs to residents and making strategic investments in community priorities. Each year, the town’s annual budget is one of the most important tasks facing Town Council, and Council has directed staff to prepare a budget that keeps the overall tax increase in line with inflation out to 2020.
Town Council approved the town’s 2018 operating and capital budgets on December 18, 2017.
The impact of Council’s budget approval is a 2.58 per cent increase to the town’s portion of the tax bill, for an overall property tax increase of 1.75 per cent when the approved regional and expected educational tax levies are included. Residential property taxes will increase by $13.98 per $100,000 of assessment meaning that the owner of a home assessed at $800,000 would pay an additional $111.84 per year or $2.15 per week.
Key budget highlights include:
Council received the town’s 10-year capital forecast on February 26, 2018. The 2018-2027 forecast totals $1.25 billion and includes the $129.1 million in spending for 2018 previously approved by Council on December 18, 2017.
These pages will help you learn more about the 2018 Budget - please visit often.