Tue, 15 Dec 2015
Oakville Council unanimously approved a 2.4 per cent increase to the town’s portion of the tax bill. When combined with the expected regional increase and estimated education tax rates the overall property tax increase is 1.66 per cent or $14.14 per $100,000 of assessment. This means a home assessed at $400,000 would pay an additional $56.56 per year or $1.09 per week.
“Once again, we have kept our promise to keep tax increases in line with inflation while providing the programs, services and infrastructure support expected by our community,” said Mayor Burton. “Oakville has become one of the best municipalities at keeping its tax increase low.”
The approved $371 million combined operating and capital budget provides a wide range of programs and services including winter road maintenance, parks and trails, harbours, transit, emergency services, recreation and culture, senior services, libraries, and to keep the town’s roads and community facilities in a state of good repair.
Some program enhancements recommended for 2016 include funding for the first year of a multi-year transit service plan, the introduction of the Radio Frequency Identification (RFID) system in town libraries, and increased resources to meet recreational program demands. There’s also an additional $3,600 for the Oakville Arts Council grant funding and $3,600 for Sports Oakville grant funding for local groups. In addition, Council agreed to the Budget Committee’s recommendation to cut $83,900 in Council related costs from the budget.
The Capital Budget and 2016-2025 Capital Budget and Forecast sees $99.4 million of funding in 2016 and just over $1 billion for capital requirements over the next 10 years with a focus on transportation, infrastructure renewal and other elements related to growth. Nearly half of the Oakville portion of the increase is related to infrastructure maintenance and repair.
Some of the key capital projects for 2016 include:
“Many municipal increases are 50 per cent higher than Oakville’s overall increase. We are providing programs and services our residents want in a fiscally sustainable manner and are investing in our infrastructure at the same rate that it depreciates,” said Budget Chair Tom Adams. “Overall, this is a responsible and proactive budget. We are keeping taxes in line with inflation, debt under control, and infrastructure in good working order.”
For details visit the 2016 Budget page.