Budget 2019 builds on City’s success: Mayor Bevilacqua

Feb. 20, 2019 11:00 p.m.
Council approves 2019 Budget and 2020-2022 Financial Plan
 
During tonight’s Special Council Meeting, Mayor Maurizio Bevilacqua and Members of Council unanimously endorsed the 2019 Budget and 2020-2022 Financial Plan, which reflect the City’s commitment to fiscal transparency and accountability.
 
The foundation for this year’s budget was once again rooted in respect for citizens’ hard-earned tax dollars, while also adhering to the City’s financial principles. It will serve as a roadmap to guide the City’s efforts in maintaining existing infrastructure and services, ensuring growth pays for growth and embracing new initiatives that improve life in the city.
 
The budget includes a three per cent tax rate increase, which represents an additional $53 per year for the average residential property valued at $891,000, and maintains Vaughan’s commitment to have one of the lowest tax rates in the Greater Toronto Area.
 
The citizen-focused 2019 Budget and 2020-2022 Financial Plan also demonstrate the goal of transformational city-building and moving the city forward, while delivering services more effectively and efficiently.
 
While the property tax bill may come in a City of Vaughan envelope, the amount collected is divided between the City of Vaughan (28 per cent), York Region (48 per cent), the York Region English and French school boards for education (23 per cent) and the Hospital Precinct Levy (one per cent).
 
At the City’s second budget meeting on Feb. 4, Council discussed the importance of residents having the opportunity to learn more about the services the Region provides and passed a motion calling on York Region to hold an evening meeting in Vaughan next year to discuss its 2020 budget.
 
Mayor Bevilacqua and Members of Council want to hear from residents year-round, not just during the budget process. Visit vaughan.ca/council or call Access Vaughan at 905-832-2281 to connect with local representatives.
 
For more information about the City’s 2019 budget, visit vaughan.ca/budget. For more information on York Region’s budget, visit york.ca/budget.  
 
QUOTE
 
“The 2019 Budget and 2020-2022 Financial Plan is a blueprint that responsibly manages taxpayers’ hard-earned dollars and safeguards investments for the quality public services residents rely on each day. Building on the success of the last eight years, we have once again passed a budget that ensures the property tax rate increase is no greater than three per cent. Vaughan continues to maintain one of the lowest and most competitive tax rates in the Greater Toronto Area. We continue to secure efficiencies and maximize every dollar we are entrusted to manage. Since 2015, we have saved nearly $30 million in tax dollars because of our commitment to continuous improvement. Today, a vast majority of citizens believe they are getting good value for their tax dollars. With our new budget in place, we can continue to confidently press ahead with the many transformational city-building initiatives that are shaping Vaughan’s promising future.”
-  Mayor Maurizio Bevilacqua
 
QUICK FACTS
 
 
  • The 2019 Budget and 2020-2022 Financial Plan were unanimously approved by Vaughan Council during a Special Council Meeting on Feb. 20, 2019.
  • The 2019 property tax increase is three per cent, which is an increase of approximately $53 per year for an average residential property assessed at $891,000 or $7 per year for a commercial property assessed at $100,000.
  • According to Vaughan’s 2018 Citizen Satisfaction Survey, 81 per cent of residents believe they are receiving good value for their tax dollars.
  • The City’s operating and capital budget has two distinct components: property tax-supported budget, and water, wastewater rate and stormwater charge-supported budget.
  • The 2019 property tax-supported operating budget is approximately $310 million in gross expenditures.
  • The water and wastewater rate and the stormwater charge-supported operating budget for 2019 is approximately $180 million in gross expenditures.
  • The stormwater charge has funded more than 300 initiatives.
  • The 2019 capital budget is approximately $166 million.
  • Where do taxes go?
    • Average residential tax bill (based on average assessment value of $891,000):
      • York Region, 48 per cent ($3,124)
      • City of Vaughan, 28 per cent ($1,837)
      • Local School Boards, 23 per cent ($1,515)
      • Hospital Precinct Levy, 1 per cent ($66)
    • Commercial tax bill (based on assessment value of $100,000):
      • Local School Boards, 58 per cent ($966)
      • York Region, 26 per cent ($432)
      • City of Vaughan, 16 per cent ($263) 
LEARN MORE
 
 
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