New Tecumseth 2025 draft budget opens with 9.5 per cent tax hike

Posted November 4, 2024

 

New Tecumseth's draft 2025 budget proposes to increase the local portion of property taxes by 9.53 per cent, or $247 on a home with an average market value assessment (MVA) of $456,000. The proposed levy would raise approximately $48 million to help finance a $107 million spending package, an increase of $8 million over last year.

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New Tecumseth's portion of the 2025 tax bill would average $$2,956, and when the County ($1,420) and Education ($698) are factored in, the total average bill climbs to $5,073, which is a blended tax increase of 6.3 per cent or $302 more than 2024.

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By dollar amounts, the largest budget hikes are salaries and wages and 13 new proposed staffing hires adding $4.6 million, while contracted services climb $1.9 million, nearly all for OPP.

 

The capital budget is $45 million, including fire trucks for the pending Station 4, more than $4 million in parks, recreation and facilities, including more than $2 million for New Tecumseth Recreation Centre upgrades - the Town has applied for matching provincial grants. The significant projects include various roads and bridges projects, and water and wastewater infrastructure. Capital works will add over $6 million in long term debt.

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Water and Wastewater rates will increase by 15 for water and 8.5 for wastewater, matching last year's increases. The impact on the average home using 200 cubic meters of water per year is approximately $76 or $6.33 per month.

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Click here to read the 2025 draft budget - https://tinyurl.com/2w7uyexw

 

New Tecumseth council will hold its first budget meeting Nov. 6 beginning at 9 am.

 

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