Saugeen Shores councillors are supporting the Town’s proposed 2024 budget which includes a special future capital levy.
The Town’s tax levy is set at $23.2 million. That works out to an estimated combined blended tax rate increase of 4.99 per cent or a $207 increase to the average household assessed at $314,000.
For the first time, the Town is basing its budget on a ten-year capital asset management plan.
On top of the regular tax increase, the Town is also introducing a new ‘Future Capital Special Levy’ to fund about $310 million in capital projects over the next decade. That would work out to about $49 for the average household to support the Town’s 10-year plan. The strategy will be to increase that special levy amount every year for ten years.
Vice Deputy Mayor Mike Myatt said in council’s discussion Monday night, “We’ve had an infrastructure deficit and this is catch-up time. It’s not an easy pill to swallow but I think there’s a lot of great things in there (the ten-year capital plan) for the members of our community that’s going to benefit a lot of people, no doubt.”
Myatt noted the community is expected to grow to 20,000 people by 2030.
Deputy Mayor Diane Huber noted, “It’s really important for the public to understand, it’s not across the board $49, it’s based on assessment.” She added, “It will get bigger as we go,” and noted, “The expectation is that over ten years, that figure will be changing.” Huber said, “Somebody who takes the time to look through the business plan will see that there’s an awful lot anticipated over that ten-year period that we’ve got to pay for somehow.”
Some focus areas in the 2024 budget include work to build the new Aquatics and Wellness Centre in Port Elgin, increasing capacity of the water and wastewater system, an urban tree canopy plan, implementing park master plans, and expanding the FoodCycler composting program.
The budget still needs to be formally passed in a bylaw at a future meeting.
