Budget Committee recommends 5.93 per cent increase to town tax levy

Friday, February 25, 2011 – for immediate release

Budget Committee recommends 5.93 per cent increase to town tax levy

Change results in an overall residential tax increase of 2.79 per cent

Budget Committee concluded its deliberations yesterday by recommending a 5.93 per cent increase to the town’s share of the residential tax bill. Residents can expect to pay 2.79 per cent more on their overall tax bill or $27 per $100,000 of assessment value. Budget Committee also directed staff to align overall tax increases for the rest of the term of Council with inflation.

“The Budget Committee appreciated the feedback we received from over 400 members of the community,” said Councillor Tom Adams, chair of the Budget Committee. “I am very pleased that the Committee recommended to Council that we align 2012-2014 tax increases to inflation. It is important that we ensure a sustainable tax load for residents into the future.”

The Budget Committee is recommending a $311.1 million budget for the town’s combined operating and capital requirements including costs associated with operating new town facilities such as Sixteen Mile Sports Complex and the new transit facility. The budget also includes over $3.4 million in reductions, operating efficiencies and new revenues to offset these costs and bring in an overall tax increase below the Ontario rate of inflation.

“The public told us they want and value the programs and services that are helping Oakville to become the most livable town in Canada,” said Oakville Mayor Rob Burton. “We are proud of the way staff has been able to create efficiencies across our operations to keep the total property tax increase as affordable as possible while we improve our community’s facilities deficit. Our performance based fiscal management innovations are paying dividends in value for money.”

Key capital spending projects recommended by the Budget Committee include $15.3 million for the completion of the new transit facility; $10.9 million for the completion of Queen Elizabeth Park Community Centre; $4.0 million for road rehabilitation; and $16.6 million for the expansion of road capacity.

Councillor Adams thanked his colleagues and staff for their support during the budget process, noting that the Budget Committee had reached out to the public in more ways than ever before, “The public had the opportunity to be heard whether completing our survey, emailing us, attending open houses or appearing before our committee. This level of interest helped set the tone for our deliberations and I want to thank my Council colleagues, staff and the public for their contributions to the budget process.”

Budget Committee recommendations will go before Council on March 7, 2011 for approval. Members of the public wishing to appear before Council should register with the Town Clerk townclerk@oakville.ca or call 905-815-6015 no later than noon the day of the meeting. 

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Media contacts

Nancy Sully
Deputy Treasurer and Director of Financial Planning
905-845-6601, ext. 3143
nsully@oakville.ca

Janine Ivings
Senior Communications Advisor
Corporate Communications
905-845-6601, ext. 3005
jivings@oakville.ca


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Budget Committee recommends 5.93 per cent increase to town tax levy