Oakville taxpayers to see lowest tax increase in 15 years

Tuesday, December 17, 2013 – for immediate release

Oakville taxpayers to see lowest tax increase in 15 years

Oakville Council approves 2.11% property tax increase for an overall 0.83% increase on tax bill

Exceeding its commitment to keeping the total property tax increase in line with inflation, Oakville Council unanimously approved a 2.11 per cent increase to the town’s portion of the tax bill for an overall property tax increase of 0.83 per cent including regional and education portions. This means an average home assessed at $400,000 will pay an additional $30.24 per year or $0.58 per week for town programs, services and infrastructure renewal.

“This is the lowest tax increase Oakville Council has approved in 15 years. It’s a sensible budget that allows us to continue our progress in keeping up with infrastructure renewal, as well as the program and service needs of our community,” Mayor Rob Burton said. “It’s also a budget that further reduces our debt level.”

The approved $296.2 million combined budget for operating and capital requirements will help maintain existing programs and services, and ensures appropriate funding to keep Oakville’s infrastructure in a state of good repair. Some of the top capital projects influencing the 2014 budget include:

$6.3 million for road resurfacing and preservation
$5.1 million for parks and harbours rehabilitation and development, and equipment replacement
$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

Council also supported improving snow plowing on residential roads. Residential roads will now be plowed when snow accumulation reaches 7.5 centimetres instead of the previous 10 centimetre threshold.

“I’m extremely proud of the hard work that went into reducing this year’s budget. Oakville continues to be one of the only municipalities able to match infrastructure renewal funding with its rate of depreciation. We are spending wisely and building healthy reserves as we plan for the future,” said Budget Chair Councillor Tom Adams. “Our budget increase is in line with inflation and we’re in a good position to meet that same inflationary goal in 2015.”

Visit the 2014 Budget page for more information.

Media contacts:

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

Janine Ivings
Senior Communications Advisor
Corporate Communications
905-845-6601, ext. 3005

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Oakville taxpayers to see lowest tax increase in 15 years