HALTON HILLS, ON – A local tax increase of 3.9% is expected to result in a final blended tax rate increase of 2.4% when combined with the forecasted tax changes that will be made at the Halton Region and the school board levels. Using MPAC’s 2016 Current Value Assessment (CVA) of $623,500 for the average residential property in Halton Hills, residents can expect to see a $118 increase in their property taxes for 2021. This figure is based on the 3.9% tax increase approved at Monday night’s Budget Committee meeting; the decision will be ratified at Town Council next week.
A presentation by Town Treasurer Moya Leighton followed opening remarks by Acting CAO and Commissioner of Corporate Services, Chris Mills. “Despite challenges of having the lowest assessment growth in three years, a 46% increase in insurance premiums and lower user fee revenues, Town staff has been successful in presenting a budget that recognizes Council’s priorities, preserves cash flow and advances key initiatives.”
It was noted that impacts from COVID-19 would be tracked outside of the budget and that the municipality would leverage all available funding from the provincial and federal governments. Through the year the Town will continue to pivot quickly to changes, reduce costs where possible to match changes in revenues; defer the capital program to manage cash flows and draw on reserves to fund shortfalls and/or cash flow interruptions.
“I recognize that this has been a challenging year with the impacts of COVID-19 adding an additional layer of pressure,” said Mayor Rick Bonnette. “I am very pleased with the work that staff has done to put forward a realistic and reasonable budget that meets the needs of this community. I know that when Vision Georgetown comes online, we will realize much needed assessment growth and be in an even better position moving forward.”
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