Doing a quick, informal survey, it appears that a number of people don't realize that their property taxes are paying for the Town of Oakville's Budget and Oakville's portion of Halton Region's budget and Boards of Education's budgets. This is an important fact to keep in mind. It helps to determine who is accountable for increases to your property taxes.
Oakville's budget makes up 39% of your property tax bill in 2014. Halton Region and education boards make up the remaining 61%. So in this election period there has been much discussion about property taxes.
On one side of the debate is Rob Burton who indicates that Oakville's property tax increases are at or below inflation. The Mayor's statements are correct that Oakville's property taxes are at or below inflation.
Total property tax increases which is created by blending the town, region & education budgets from 2008 to 2014.
2008 = 2.7%
2009 = 1.82%
2010 = 1.6%
2011 = 2.79%
2012 = 2.93%
2013 = 1.47%
2014 = 0.83%
On the other side is John McLaughlin who is stating that Oakville's portion of our property tax has gone up 40 percent since Mr. Burton became Mayor in 2006.
So I've reviewed Oakville's budget increases since 2008, which shows that the town of Oakville's budget has in fact grown by 42% compounded annually. Our population since 2008 has grown by 6.99%. The inflation rate from 2008 to now has grown by 12.42%. The Region of Halton's Budget has stayed stable at zero for the past four years, and the Boards of Education's budgets was at zero for 2014. So it appears the only thing growing in your property taxes is the portion payable to the town of Oakville.
Town Budget's increases from 2008 to 2014
2008 = 8.3%
2009 = 5.11%
2010 = 4.5%
2011 = 5.93
2012 = 6.55%
2013 = 3.01%
2014 = 2.7%
Total simple increase in the town's portions of property tax since 2008 is 36% and the compounded rate is 42%.
Canadian Inflation Rate from 2008 to 2014.
2008 = 2.37%
2009 = 0.31%
2010 = 1.78%
2011 = 2.91%
2012 = 1.52%
2013 = 0.94%
2014 = 2.00%
So when you vote on October 27, 2014, give a little thought to who is the person that best can represent your interests.