Oakville’s proposed operating budget and capital levy presented to the 2018 Budget Committee keeps the total property tax of 1.94% inline with inflation.
For 2018, a 2% inflation rate was used. It is the Bank of Canada's mid-point. The increase also considered the Toronto Consumer Price Index (CPI) increases for August, September and October which were 2.1%, 2.1% and 1.7%. The target also looks at inflation predictions. The prediction for 2018 and 2019 is 2% for each year.
The 2018 budget and levy predict a 3.04% increase to the town’s portion of the tax bill. This increase is broken down between an operating budget and the capital levy. The base budget increase is 2% and the capital levy portion is 1%. The delivery of programs and services makes up the base budget. The capital levy provides funding to ensure infrastructure is well maintained and the infrastructure gap does not grow. The capital levy's funds are not used to fund municipal services.
The overall 1.94% property tax increase is achieved when the town's operating budget and capital levy is combined with the estimated regional and educational tax. The increase would see residential property taxes increase by $15.47 per $100,000 of assessment. The property tax on an $800,000 home would increase by an additional $123.76 per year.
The $321.5 million Operating Budget includes:
- Roads maintenance
- Community facilities maintenance
- Fire services
- Transit
- Parks and trails
- Recreation and culture
- Senior services
- Libraries, and a host of other important services
- Trafalgar Park Community Centre 2018 opening
- Expansion of enforcement hours for by-law services
The $128.4 million Capital Levy funding is invested in:
- Transportation
- Infrastructure renewal
- Growth-related facilities
Key capital projects:
- Trafalgar Park Revitalization Project
- South East Community Centre
- North Oakville fire station and library branch
- Bronte Outer Harbour dockage
- Emerald Ash Borer Management Program
- Road Resurfacing Program (largest in Oakville’s history, at a cost of $9.6 million)
The transportation capital projects for 2018 include the reconstruction of Speers Road and Sixth Line north of Dundas Street.
The 2018 Budget for program and service rates and fees includes:
- Transit fares
- Recreation and culture program fees
- Building Code Act administration and enforcement
- Planning Act administration and enforcement
The Province’s minimum wage increase to $14 per hour will impact Parks and Open Space, along with Recreation and Culture departments. The increase is incorporated in the proposed 2018 budget.
If you want to be involved in the process you can attend the following meetings that take place at Town Hall:
- Thursday, November 30, 7 p.m. – public delegations
- Tuesday, December 12, 9:30 a.m. – Budget Committee deliberations
- Monday, December 18, 7 p.m. – Council approval of the 2018 Budget
Residents can watch the meetings on live stream or YouTube.