Draft Budget & Business Plan

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On The Agenda at Council tonight is the draft Township budget and business plan process for the 2015 Budget & Business Plan. This is the first stage of review – with target for approval on January 26th.

The draft is proposing a property tax increase of 5 percent applied to the Township portion of your tax bill. The Township share of your taxes is just under 40 percent of the total bill. The average price of a home is King is $614,000 so this would translate to an increase of $99.00 per average house hold. The Region and School board have yet to announce any changes to their sections of the bill. The Regional share is also just under 40 percent and the School board takes the rest — just over 20 percent of your bill.

I would encourage everyone to have a look at the proposed budget, and understand how your tax dollars are being spent within the Township. As residents we want the best in services, we want great parks to enjoy, and we want our town streets and villages to be welcoming and walkable — all of these items come with a cost. The hard fact is that no one welcomes an increase in taxes and many residents are already feeling burdened by paying high dollar taxes. The question then becomes is another hundred or in some cases two or three hundred dollars a year worth the return?

I have been gaining a new understanding in regards to tax allocation. When we made our rounds during the campaign I was often asked, “Where does the development charge money go?” It goes towards items that support growth. For example, the building of the new community park coming to Nobleton is worth $2,596,000. This new park is funded 100 percent through growth. Development charges can also be used to fund items that support growth through partial funding of items like a fire truck or sidewalk improvements. However, Development Charges are not used to support operational cost (for example, a loader or a backhoe.)

The budget also covers items such as user fees for our arenas and community buildings.

Water and waste water costs are also on the agenda, with a slight increase in cost largely based on maintenance and increasing Regional demand. This is a Regionally determined increase.

The rest of the agenda items can be viewed on the website at King.ca

https://king.civicweb.net/Documents/DocumentList.aspx?ID=41816

 

 

 

 

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