At the Monday, December 20th Council meeting, Town of Collingwood Council approved the 2022 Operating & Capital budgets with a 2.0% tax rate increase on the municipal portion of property taxes. This means for a median assessed home of $327,000 residents can expect an increase of $45.93.
Each year municipalities are faced with the challenge of balancing the budget. A municipality can take on debt to pay for large capital acquisitions, however it must ensure that there is enough money to fund day-to-day operations. To balance the budget, a careful analysis must be done regarding the level of services required to meet the expectations of the community and the realistic taxation and user fee levels.
Council and Staff would like to thank all residents and stakeholders who participated in the public survey and provided feedback during the November 30th and December 13th public meetings, as well as online engagement throughout the budget review process.
"The budget process started in early fall and involved significant public engagement," Mayor Brian Saunderson said. "Council and Staff worked very hard to keep the tax rate increase to 2 percent. This budget continues this Council’s commitment to fiscal responsibility and is responsive to our community's priorities as identified through the public engagement and the Community Based Strategic Plan”.
The 2022 operating budget is comprised of $64.3 million in operating expenses and $51.6 million in capital expenses. Service enhancements include a new Affordable housing reserve fund and the Business Accelerator Program. Major capital projects include the completion of Sunset Point Park Playground, the Harbourview Splashpad and the start of the Water Treatment Plant expansion.
For more information, contact:
Treasurer
Monica Quinlan
T. 705-445-1030 Ext.3227
mquinlan@collingwood.ca
Manager, Public Relations & Communications
Christa Carter
T. 705-445-1030 Ext. 3274
ccarter@collingwood.ca