Halton Hills Council has approved this year's budget with a tax increase of 6.62 per cent, including special levies dedicated to rising insurance costs and infrastructure.
The decision, made by the local politicians Monday (Feb. 13), means the town portion of the tax bill for an average home worth $623,500 in Halton Hills will go up by $156.
When combined with the Halton Region and school board tax rates, the overall 2023 tax levy increase for local residents now stands at 4.26 per cent, or an extra $217.40 for the average Halton Hills homeowner.
“It has been a particularly challenging time, but I applaud our council for their diligence in providing residents with a restrained tax increase while maintaining the services our community expects," said Mayor Ann Lawlor.
"Many of the financial pressures are beyond the control of the municipality, such as the rising cost of insurance. This has necessitated the need for an insurance levy for the second year in a row. Similarly, the infrastructure levy provides continual investment in assets such as roads and facilities to keep them in a state of good repair.”
Among the initiatives of the new budget are:
- Permanent delivery and enhancement of the ActiVan service pilot project, providing transportation to the Oakville Trafalgar Memorial Hospital
- Implementing a new automated speed enforcement program
- The addition of a new fire prevention inspector and aerial ladder truck.
Town CAO Chris Mills said the 2023 budget reflected the challenges of a year of low assessment growth, rising insurance rates and inflation, which drives up the cost of doing business.
The municipality’s annual cost of liability insurance premiums has grown by 196 per cent or $1.4 million over a five-year period.
"Many of the challenges faced by the Town are not unlike that of other municipalities," Mills said. “We are also in a period of uncertainty with legislated provincial changes to our planning processes that will limit our ability to fund growth and are causing additional strain on our already limited resources.”
