Vaughan Council Approves 2015 Budget
Rate reflects commitment to keep taxes low
As part of its commitment to put citizens first, today Vaughan Council passed one of the lowest tax rate increases among similar sized cities in the Greater Toronto Area. This is in keeping with Council’s commitment to maintain a tax rate of three per cent or lower throughout this four year term.
The budget includes a 2.7 per cent residential property tax increase, which represents an additional $34 per year or $2.83 per month on the average home in Vaughan assessed at $587,000. Property taxes are the primary source of funding for more than 200 of the City’s programs and services including fire and rescue, waste collection, snow removal and recreation programs.
The City’s total budget for 2015 is $352 million:
- Operating budget of $259 million – delivers services such as recreation, fire and emergency services, waste collection, snow clearing and community centre operation
- Capital budget of $93 million – funds building and repairing City infrastructure, including roads, pipes, parks, buildings, etc.
To support City operations and continued growth, the City’s budgets include resources for:
- North Regional Maple Park – Phase 1
- Opening the new Civic Centre Resource Library
- Relocating fire station 7-4 to Kleinburg
- Community infrastructure repair and renewal projects
- And many other programs and services
Through the budget process, a new task force was created to look at a budget reduction plan for 2016-18 to help achieve Council’s direction for a tax rate increase of not more than three per cent annually.
Council also passed the Water and Wastewater/Stormwater Budget of $119 million including a rate increase of 9.9 per cent, which represents an additional $91.59 per year or $7.63 per month for the average annual consumption of 300 cubic meters (300,000 litres).
QUOTES
“After thorough discussion, public input and careful consideration, we have developed a comprehensive budget that is fiscally responsible, respects taxpayers’ hard-earned money and continues to move our City forward. In January I tabled a motion to keep tax increases to no more than three per cent for this term of Council and we have succeeded this year with a 2.7 per cent residential property tax. This budget reflects our commitment to enhance the quality of life in Vaughan by reaching higher and going further to meet your needs while keeping taxes amongst the lowest in the GTA. Our budget process required tough choices, as we balanced the need to keep tax rates low with maintaining service levels and pursuing city-building initiatives.”
– Mayor Maurizio Bevilacqua
“The 2015 budget reflects the City’s commitment to put citizens first through service excellence. The establishment of a budget task force will allow us to build on this momentum as we plan for the future. It will keep us focused on essential services and programs as we look for ways to continue our responsible growth and financial sustainability.”
– Regional Councillor Gino Rosati, Chair of the Finance, Administration and Audit Committee
QUICK FACTS
- Citizen engagement is important to the budget process and residents were given a variety of opportunities to be involved, including public meetings, social media outreach and a new online interactive Budget Challenge tool.
- Residential property taxes are split between Vaughan (27 per cent), York Region (49 per cent) and the Province of Ontario (23 per cent for education).
- Commercial property tax will increase by 2.7 per cent, which means for each $100,000 of property assessment, commercial property will increase by $7 annually and industrial property will increase by $8.23 annually.
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