Council approves 1.99 per cent overall tax increase

Tue, 13 Dec 2016

Town Council met its goal to keep overall tax increases in line with inflation with the approval of the 2017 Budget at the Council meeting on December 12, 2016. The approved 3.21 per cent increase to the town’s portion of the tax bill creates an overall 1.99 per cent tax increase when combined with the expected Halton Region increase and estimated education tax rates. The latest Toronto Consumer Price Index shows a 2.3 per cent annual increase. The budget also positions Oakville to keep overall tax increases in line with inflation out to 2020.

“Maintaining our strong, stable financial health is a critical part of Council’s vision for a more livable Oakville,” Mayor Rob Burton said. “This budget delivers the programs and services our residents expect and invests in our community’s infrastructure, while once again reflecting Council’s goal of keeping overall property tax increases consistent – and consistently low.”

The approved $310 million operating budget continues to provide Oakville with its existing wide range of programs and services. This includes maintenance of roads and community facilities, fire services, transit, parks and trails, recreation and culture programs, senior services, libraries, and a variety of other valued services. Some program enhancements for 2017 include improvements to by-law enforcement and implementation of changes to the private tree by-law to strengthen tree protection. The budget also allocates additional funds for Visit Oakville tourism, the town’s Heritage Grant program, and support for cultural programs and grants.

The approved 2017 capital budget includes $122.3 million in project funding and just over $1 billion in capital projects forecasted between 2017-2026 with a focus on transportation, infrastructure renewal and other elements related to growth. Some of the key capital projects for 2017 include:

• Trafalgar Park and Oakville arena revitalization – $13 M
• Lakeshore Road Bridge at Sixteen Mile Creek reconstruction – $10.5 M
• Road Resurfacing and Preservation Program – $9.1 M
• Former Oakville-Trafalgar Memorial Hospital demolition – $7.6 M
• Phase 2 of LED streetlight conversion – $6.6 M
• Preparations for Kerr Street widening and grade separation – $4.7 M
• Expansion buses – $4.3 M
• Speers Road widening from the GO Station West of Third Line to Fourth Line – $4 M
• Emerald Ash Borer Management Program –  $3.7 M

“The budget keeps overall taxes in line with inflation, invests significantly in building and maintaining infrastructure and positions Oakville for a strong and stable financial future,” Budget Committee Chair Tom Adams said. “Once again, we are addressing the needs of our community while providing the lowest overall property tax increase among neighbouring municipalities.”

For details visit the 2017 Budget page.