Oakville town council has unanimously approved the 2025 budget, with a property tax increase next year of 4.91 per cent.
For residential properties, the tax increase will mean an additional $39.10 for every $100,000 of assessed property value.
For example, a home assessed at $800,000 will see an annual tax bill of $6,680, up from $6,367 in 2024, according to town staff. The funds will be divided among Oakville (43 per cent), Halton Region (38 per cent), and education (19 per cent).
Mayor Rob Burton says that, "Oakville’s total property tax increase of 4.91 per cent remains the lowest among our neighbouring municipalities, demonstrating our commitment to fiscal responsibility."
"Together, we’ve developed a budget that not only advances the town’s strategic priorities but also invests in parks, trails, and the amenities that make Oakville Ontario’s most livable community."
"The 2025 Budget will strengthen the town’s offerings and make smart investments that build our town now and in the future," said Town and Regional Councillor Tom Adams in a press release. (Adams is also the 2025 budget committee vice chair.)
Inflationary pressures have driven up salaries, benefits, and material costs, while new initiatives like automated speed enforcement and expanded emergency services have also increased expenses.
Read more here: Oakville's property tax increase headed to 5 per cent
Halton Region’s police budget alone rose by 14.3 per cent, enabling the hiring 12 front-line officers, for a total of 38 new officers, along with 21 civilian positions. Additionally, Oakville will hire eight new firefighters and cover costs for operating the newly opened Sixteen Mile Sports Complex and library branch.
Highlights of Oakville’s $437.1 million operating budget and $202.2 million capital budget include:
- Transit Improvements: $17.7 million for replacing and refurbishing transit vehicles.
- Parks and Trails: $14.9 million for new parks, parkettes, and trail enhancements.
- Fire Services: $12.5 million for the renovation and expansion of Fire Station 4.
- Road Maintenance: $6.2 million for resurfacing and preservation.
- Community Services: $5.7 million for replacing Ice Rink "A" at River Oaks Community Centre.
- Accessible Transit: $85,000 to offer free rides through the Care-A-Van service, starting Spring 2025.
- Heritage Grants: $60,000 added to the annual Heritage Grant program, raising it to $180,000.
- Traffic Study: $75,000 for a study on the potential conversion of Bronte Road to a one-way street.
According to the town, every $100 collected by the town will be allocated as follows:
- 22 per cent for infrastructure renewal
- 18 per cent for emergency services
- 15 per cent for Oakville Transit
- 12 per cent for road networks
- 10 per cent for parks and open space
- 8 per cent for recreation and culture
- 5 per cent for Oakville Public Library
These areas will account for 90 per cent of expenses, the town says.
Oakville residents are "encouraged" by the town to view the highlights from the adopted 2025 budget online here.