While the cost of almost everything is skyrocketing these days, it looks like Halton residents can expect to pay only slightly more on the regional portion of their tax bill next year.
Regional council recently approved the 2023 budget directions that specify staff should prepare the document based on a tax increase that doesn’t exceed three per cent.
This would equate to an additional $8 per $100,000 of the assessed value of your home — $5 for regional services, and $3 for police services.
So if your home is currently assessed at $500,000, this would be a $40 tax increase on the regional portion of your bill next year.
The number is up slightly from this year’s approved regional tax increase of 2.2 per cent, which equated to an additional $5.85 per $100,000 of the assessed value of your home.
In light of the uncertainties around things like inflation and the impacts of COVID-19, staff will prepare the 2023 budget using a “conservative approach,” says a report from Halton commissioner of finance and regional treasurer Cyndy Winslow.
“There are significant cost pressures driven by the increased cost of goods, services and construction due to rising inflation that will impact the 2023 capital and
operating budgets,” she wrote.
“In addition, there are still many unknown variables related to COVID-19 that have the potential to impact the 2023 budget, including recovering from the
pandemic and the ongoing impacts.”
She added, “Staff will focus on identifying savings, reallocating resources and leveraging other funding sources to achieve the 2023 budget direction target in this challenging environment.”
Other budget drivers include:
- Public health: supporting COVID-19 vaccinations into 2023 and recovery of public health programs and services that were suspended or modified due to the pandemic response
- Waste management: beginning to implement methods that will divert waste from the landfill and reduce greenhouse gas emissions, as recently approved in the Solid Waste Management Strategy
- Road operations: addressing funding pressures for road maintenance and resurfacing costs as the Region’s transportation infrastructure grows
- Housing services: developing a multi-year plan to sustainably fund the Halton Rental Assistance Program, which has experienced an intense demand since the pandemic began, according to regional staff.
Halton also manages the region’s water and sewer services and sets the annual rates. For 2023, the rate is projected to rise by 4.1 per cent for both services, or $42 more for a typical household for the year.
With a municipal election this fall, the budget is scheduled to go before regional council slightly later than usual - January 18 for review and deliberations, followed by approval on January 25.
