Tillsonburg Town Council approved a tax rate increase of 4.91 per cent passing its 2024 municipal budget at the Feb. 12 council meeting.
An average Tillsonburg home with an assessed value of $237,000 will see an increase of $96.21 on the Town portion of its annual tax bill.
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“This staff, everyone – the senior leadership team and anyone who was involved in this – did an incredible job,” said Mayor Deb Gilvesy. “People don’t know all the work that goes on behind the scenes because this budget started probably somewhere at 15 per cent. We didn’t even see it, and it came to us at 6.5. It just kept going back and back, and everyone was resilient and said, ‘let’s take another look at it.’ Getting it down to 4.91, I’m going to say a big thank you on behalf of the town… for realizing that people are under more pressure.”
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Many municipalities have passed higher than normal property tax increases in 2024 to address infrastructure needs, Gilvesy said in a media release.
“The 4.91 per cent tax increase to Tillsonburg residents in the final 2024 budget compares favorably to the surrounding region. The increasing costs of supplies and labor, as well as rising interest rates, are definitely having an impact on municipalities.”
Municipalities across the province are being challenged by costs associated with updating aging infrastructure, continued growth and underfunding in previous years, said CAO Kyle Pratt in the media release.
“It’s a theme we heard many times at the Rural Ontario Municipal Association (ROMA) conference in January,” said Pratt.
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The town’s overall budget for 2024 is $51.8 million, with $23 million allocated to capital projects. Last year’s overall budget was $35.6 million, with $7.2 million allocated to capital projects.
Highlights of Tillsonburg’s 2024 capital budget include retaining wall reconstruction on Beach Boulevard, road surfacing on Young Street, culvert replacement on Devonshire Avenue, road reconstruction on Townline Road, Charlotte Avenue and Clarence Street, completion of the aquatics rehabilitation and renovation project at the Tillsonburg Community Centre, and upgrades at the Lake Lisgar Water Park building.
“Local taxes, development charges, user fees and partnership funding from other levels of government are all essential considerations in facilitating the ongoing implementation of our 2021-2030 Community Strategic Plan,” added Pratt. “This year’s budget also includes both 10-year capital and four-year operating forecasts.”
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Taxpayers had the opportunity to provide input to council on 2024 budget priorities through an online budget survey conducted by Oxford County.
“We continue to work toward an open and transparent environment where all stakeholders have the opportunity to be heard,” says Gilvesy.
“This is a very responsible budget in an increasingly difficult economic environment,” said Renato Pullia, interim director of finance / treasurer. “It respects the current economic conditions with a modest tax rate increase, addresses the short to medium term priorities, while at the same time setting a path for ongoing longer term infrastructure renewal.”
Oxford County approved a 16.7 per hundred hike of the county’s share of local property taxes in December. The county’s budget for 2024 is $349.5 million.
County officials said the typical homeowner – based on the Municipal Property Assessment Corporation’s average current value assessment of a single-family detached residential home in Oxford County – will see an increase of approximately $154 for the year.
With files from Postmedia
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