Over the Holiday break, Members of Council will be working diligently to review their budget binders in anticipation of our Budget Meetings scheduled in January 2023.
As part of the annual budget process, Members of Council will be discussing both the operating and capital budgets for the Town of Aurora with a timeline for approval by January 31, 2023.
As I have always maintained, my goal is to approve a balanced budget that is fiscally responsible without comprising the level of services our residents have come to expect.
As it stands, while the current rate of inflation is sitting at 6.9%, the current proposed tax levy is 3.5% . The Town’s proposed levy at 3.5% – while higher than we would like to see – is a lean starting point considering the budget pressures such as inflation and continued provincial legislative changes that may impact property taxes. I thank staff for tabling a tax levy that continues to be fiscally responsible. However, that being said, Council will work hard during budget deliberations to ensure that any tax levy that is approved will be one that is best for our community. Further, as the Bill 23 regulations ( the details of the Province’s “Housing” bill) have yet to be released and thus the impacts of potential significant shortfalls in DCs are not yet fully known, there is a possibility of an added “Provincial Housing Tax” of 6%. We will know more in the coming weeks.
Beginning in 2018 term, Council introduced budget principals that saw a balanced approach to management of our tax dollars. Council maintained a steady tax levy each year, thus avoiding wild fluctuations in property tax. We have been, and continue to be, well-positioned financially, even during unforeseen circumstances such as a once in a generation public health crisis. As our Auditors, BDO stated, the Town of Aurora is in great financial shape certainly as compared to other municipalities. Council’s fiscally prudent decisions have ensured we are in the best place possible moving into the 2023 budget discussions.
Budgets are never about just the year-to-year taxes, rather they are a work in progress throughout the year. Our Finance Advisory committee, Staff and Council meet regularly to monitor and ensure that our finances are strong and healthy while providing the best possible services at the best possible price.
I am proud to say that we continue to have the 8th lowest tax rate in the entire GTHA and as we grow we will continue to look at ways to improve services, whether its recreational, cultural, or infrastructure … Our residents can be sure that Council will position our residents well for the future….. .
