Owen Sound’s 2024 budget is on track to be officially approved by city council.
Councillors unanimously endorsed a recommendation at their meeting Monday to authorize a total municipal levy of $34.89-million this year.
It’s a combined tax increase — including county and education levies — of 3.05 per cent for Owen Sound property tax payers. The municipal levy (city) is rising by 2.58 per cent.
The city’s director of corporate services Kate Allan says the average assessed homeowner will see their annual tax bill rise by about $130 (or $10.83 a month).
Many councillors celebrated the increase at Monday’s meeting, given the larger levy hikes many other municipalities have been approving this year.
A city budget document noted levy increases proposed or approved in some nearby municipalities such as Grey Highlands (10%), West Grey (9.7%), Saugeen Shores (4.99%), Hanover (6.84%) and others.
“When you zoom out, and compare this 2.58 per cent with the rest of Ontario, it’s not even close,” says Coun. Brock Hamley. “There’s municipalities that are staring down levy increases of seven, eight, nine and even 10 per cent.”
Owen Sound’s total operating budget in 2024 is $46.5-million. A city budget breakdown explains about 44 per cent of the city’s operating expenses are for police ($8.57-million), fire ($5.8-million) and transit ($1.2-million).
Meanwhile, the city’s capital plan reflects several years of forecasted spending and is funded by the levy, grants, reserves, water and wastewater fees and debt.
Some major projects included in the 2024 capital plan are the reconstruction of Alpha Street between 6th and 8th Avenues West ($5.2-million), filter refurbishment at the Water Treatment Plant ($2.47-million) and Phase 2 of the Downtown River Precinct ($2.01-million).
A formal by-law to officially adopt the city’s 2024 budget will be approved at council’s meeting on March 11.
