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Town draft budget presented during working sessions

November 14, 2024   ·   0 Comments

By Brian Lockhart

The Town of New Tecumseth’s draft budget for 2025 was presented at its Committee of the Whole working session on Wednesday, Nov. 6 and 13.

The blended tax increase for the Town, including the current estimates for the County of Simcoe and the School Boards is 6.32 per cent. This represents a property tax increase of around $302 per household.

The Town’s base budget has proposed a modest increase to account for inflation while maintaining existing service levels. This equates to an increase of 3.99 per cent.

Service partner’s budgets have contributed to a 3.45 per cent rise in the Town’s tax levy with 2.88 per cent of this increase attributed to the OPP budget.

The 2025 net general levy for the town is $47.7 million.

The Town’s 2025 capital budget includes several new and continuing capital projects with a total 2025 budget request of $45.2 million. Capital projects are not directly funded by property tax and utility rates. They are funded by a combination of grants, reserves, reserve funds, and debentures.

In addition to the two working sessions, a public input session was held on Wed. Nov. 13.

That was the public’s opportunity to provide input into the topics that have been brought forward in the budget and in the working sessions.

Following these sessions, the draft budget and accompanying staff report will brought to the Dec. 2, Committee of the Whole meeting which is tentatively scheduled for passage at Council on Dec. 16.

Council meetings including working sessions are open to the public.

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