Loyalist Township Council Approves 2019 Budget with 0% Tax Rate Increase
The 2019 Operating and Capital budgets are as follows:
- General Rate 2019 Operating Budget of $15,161,100, Capital of $6.29 million
- Water 2019 Operating Budget $5.1 million, Capital of $1.9 million
- Sewer 2019 Operating Budget $4.2 million, Capital of $659,000
- Amherst Island Ferry 2019 Budget of $2.893 million
- Transit Service Area 2019 Budget of $702,900
“From the beginning of the budget process, Council was focused on keeping the budget rate not just below the rate of inflation, but at a 0% increase for Township residents,” stated Loyalist Township Mayor Ric Bresee. Bresee added “Council Members and municipal staff were conscious of balancing the provision of the many vital services that residents rely on each day, while recognizing the impact that taxes have on each of our household budgets.”
The municipal infrastructure deficit for Loyalist Township, like much of Ontario’s municipalities, is a significant challenge that requires substantial resources and commitment to overcome. Loyalist Township has employed a variety of revenue sources such as debt, grants, and contributions from the operating fund, to pay for the capital program. The Township is positioning itself to be financially sustainable over the long term by leveraging asset management information and developing long range work plans and funding strategies.
An average Loyalist Township residential property has an assessment of $253,250 (2018 was $248,500). Holding the 2019 tax rate at 0% increase results in annual taxes for the average residential property of $1,813, for Loyalist Township purposes only. This is an increase of 3%, or roughly $3 per month, over 2018, due primarily to the 2019 phase in of assessment increases from the 2016 valuations done by MPAC. Final tax bills will include separate levies for 2019 budget requirements submitted by the County of Lennox & Addington as well as the School Boards.
For more information visit loyalist.ca/go/budget