York Region is proposing a 3.75 per cent property tax rate increase that could cost an average Newmarket homeowner about $88 on their annual tax bill.
The region is tabling its budget this month and an overview was presented to council Nov. 23. It will feature billions in new and future infrastructure spending, maintain a boost in funding for social services, and add staff in several areas.
“I am quite proud of the disciplined work that has gone into preparing the proposed budget,” CAO Erin Mahoney said. “You can continue to count on your regional team to be resilient in the face of pressures like inflation, new housing targets and legislative change.”
The tax rate increase would be on top of Newmarket’s planned 2.99 per cent increase, water rate increases or any associated increases or decreases from the school portion of the property tax bill. The 3.75 per cent increase includes one per cent dedicated to saving for the Yonge North subway extension.
Highlights from the budget include $1 billion in capital spending with a 10-year $11.6 billion outlook for capital spending, including the expansion of automated speed cameras and associated processing centre. Several areas are also adding staffing, including 34 York Region paramedics, 46 added to York Regional Police, and 14 new long-term care positions.
On average, the tax rate increase is about a $105 annual tax bill increase for average homes across the region. In Newmarket, the average skews lower, resulting in an average projected tax bill increase of $88.
The total operational budget amounts to $3.2 billion.
The budget was improved from outlooks thanks to an unexpected uptick in transit usage. Treasurer Laura Mirabella said, allowing for measures like increased police resources. The region now projects transit ridership to reach pre-pandemic levels next year, two years earlier than projections.
The region’s capital plans are “breaking records,” Mirabella said, with staff asking for $6.1 billion in capital spending authority to start spending on projects that will extend into future years. The 10-year capital plan will include $1.369 billion for the York Durham Sewage System expansion, $1.12 billion for the Yonge-North Subway Extension, $981 million for road expansions and more.
“It’s a big capital plan,” Mirabella said but added that it is still short of the infrastructure that will be needed to meet provincial housing targets.
York Region council will further dig into the budget Nov. 30 and Dec. 7, with approval expected Dec. 21.
King Mayor and regional finance chair Steve Pellegrini said the budget is “the right budget at the right time.”
“This is a world-class government organization with a team dedicated to enhancing quality of life for our residents,” he said.
