Homeowners will soon know how much more they’ll be paying in property taxes.
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Mayor Kevin Davis said he will be delivering his budget on or before Jan. 3.
Under the provincial strong mayor legislation, Davis, as head of council, is required to prepare a city budget by Feb. 1. Once that task is completed, advisors have an opportunity to suggest amendments.
A special city council meeting will be held Jan. 14 to review and possibly make amendments to the mayor’s budget.
At present, city homeowners are looking at a 2025 property tax increase of 5.61 per cent which translates into an extra $208.38 a year or $17.37 a month in dollar terms. The figures are based on a Brantford home with an assessed value of $285,000.
The assessed value is determined by the Municipal Property Assessment Corporation and does not reflect the market value of a home or property.
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The corporation’s last assessment was done in 2016 and an updated assessment, scheduled for 2020, was delayed by the COVID-19 pandemic.
The operating budget, as it now stands, calls for spending of $212.3 million with $138 million of that for direct city provided services such as transit.
The balance of about $74 million covers the expenses of outside agencies funded by the city including the Brant County Health Unit and the Brantford Police Service.
Speaking at Dec. 17 meeting of council, the mayor told councilors that if there was something they wanted him to include or exclude from the budgets they should contact him directly.
Coun. Dan McCreary said some councilors have already provided the mayor with some suggestions.
“I would hope that you not only consider the needs of the corporation of the City of Brantford to serve its residents but also the ability of residents to pay,” McCreary said.
The city’s capital budget calls for spending of about $161.8 million.
City council has identified improvements to Brantford Transit as a major priority this year to accommodate the increased demands of a growing community.
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