Budget Committee recommends lowest tax increase in 15 years

Thursday, December 12, 2013 – for immediate release

Budget Committee recommends lowest tax increase in 15 years

Proposed budget to go to Council for approval on Monday December 16, 2013

Achieving Council’s direction to keep the total property tax increase in line with inflation, Oakville’s 2014 Budget Committee has recommended a 2.11 per cent total increase to the town’s portion of the tax bill. This recommendation will go before Council for approval on Monday, December 16, 2013. If approved by Council, Oakville residents would see an overall increase to their property tax bill of 0.83 per cent in 2014, the lowest such increase in 15 years.

“This recommended budget meets Council’s goals to invest in maintaining Oakville’s infrastructure, reduce tax-supported debt, and keeps the overall tax increase in line with inflation,” said 2014 Budget Chair Councillor Tom Adams. “Residents will benefit from improvements in roads, parks, snow plowing and youth after school programming, and a new Operations Depot and Fire Station 9 in north Oakville. We are spending wisely and building healthy reserves as we plan for the future.”

According to Nancy Sully, deputy treasurer and director of Financial Planning, the reduction from staff’s original proposal for a 2.93 per cent increase in the town’s share of the tax bill to the recommended 2.11 per cent was a result of a larger than forecast increase in assessment growth. When the town’s portion of the tax bill is combined with the regional and education tax levy, it results in the proposed 0.83 per cent increase on the property tax bill.

Some of the top capital projects influencing this year’s budget are:

$6.3 million for road resurfacing and preservation
$5.1 million for parks and harbours rehabilitation and development
$3.6 million for the Emerald Ash Borer management program
$2.9 million for transit buses
$2.8 for the North Service Road expansion at Ford Drive
$2.3 million to secure lands for a future fire station in north Oakville

Residents who wish to appear before Council as a delegate at the December 16, 2013, meeting should register by emailing townclerk@oakville.ca or calling 905-815-6015. All Budget Committee meetings are held at Town Hall, 1225 Trafalgar Road and are open to the public. For those who cannot attend the meetings in person, they will be streamed live on TownTV. For more information visit the 2014 Budget page. 

Media contacts:

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

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Budget Committee recommends lowest tax increase in 15 years