Perth County released a budget overview, and it’s not looking promising for county residents as a potential double-figure increase is looking like a possibility.
Things are still not set, but the County has an 11.68 per cent increase across the board in their overview, meaning single-family homes would be paying $95.45 more in 2025 on their property taxes, while apartment building owners would see the largest increase in having to pay out $274.14 more.
The bigger picture sees the overall tax levy set to increase by 13.18 per cent (going up just under $3 million), which would be offset by potential growth numbers that could add $333,000 to the levy. If that happens, a tax hike would be lessened by 1.5 per cent.
Other aspects of the budget overview:
- Ontario Municipal Partnership Fund – funding reductions have nearly cut the money available in half in a four year period, with 2025’s projected total to be $532,800 (down from $1.02 million in 2021)
- Continued elimination of OMPF of $533,000 would equal a 2.4 per cent levy increase if moved completely
- Full Time Employee requests & 2025 Salary analysis shows: 1 CAO summer student, 1 administrative assistant (CAO), 1 prosecutor, approximately 2.5 paramedic (part time backfill), .4 planner (contract) and 1 economic development officer totalling $647,771 or a 1.48 per cent increase to the budget
- Capital projects are listed at $10.96 million and includes 39 projects related to roads, bridge rehabilitation and fleet replacements; $9.02 million will be funded from reserves, and $1.94 million will be funded from Canada Community Building Fund, Ontario Community Infrastructure Fund, and municipal partners; $4.025 million in capital levy to be transferred to reserves for future capital projects
- Under asset management, a dedicated capital levy increase of 1.4 per cent will help to close the infrastructure deficit gap; the County is currently using an approximate increase of 1 per cent of the levy for capital purposes and for 2025 the increase is $280,000 (1.26 per cent); increase for roads and bridges capital levy will go up to $235,000 per year – $175,000 for roads, $60,000 for bridges
In addressing councillors, Perth County Finance Director Corey Bridges indicated they were on the backside of an inflationary bump.
“The gradual improvement creates an opportunity for a more stable and predictable financial plan without use of reserves to mitigate the challenges we have seen in the past two budget cycles,” he said. “(The County’s) approach to budgeting should be one of optimism, tempered with caution by understanding the economic landscape, reallocating resources strategically and engaging council while the continuous monitoring of ongoing developments allows Perth County in creating a budget that not only responds to the current realities, but also positions us in the future for success.”
Council will review the capital budget later this month and then the operating budget in December before voting on final approval just before Christmas.
