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On December 4 and 5, Orangeville Council met to review the proposed 2024 Budget, as tabled on November 27. After deliberation of the documents, the budget was unanimously passed, resulting in a 4.5 per cent net levy increase, which equates to $145 annually for the average property owner.
During its development, Town Staff faced a number of challenges to present a reasonable levy adjustment, including inflation, growing demands for services, and low assessment growth. Although Orangeville is a growing community, the assessment growth for 2024 was projected at 0.5 per cent, generating just $119,510 in additional funding for the fiscal year.
“Each year, municipalities have to work with many external factors when developing our budgets, including inflation,” explained Patrick Kelly, Treasurer. “Changes to the tax rate need to be reflective of inflation to maintain existing service levels.”
Over the previous five years, the tax levy increases in Orangeville have been set below the rate of inflation, which has created a cumulative gap, Kelly explained, including a critical infrastructure gap. The 2024 budget has identified high-priority projects, deferring where possible, to limit debt loads.
“Staff have worked hard to find efficiencies in costs and revenue, recalibrating where possible to achieve this goal,” said CAO David Smith. “A 4.5 percent increase represents a responsible achievement in the face of current budget pressures.”
As the Town moves into the new pricing model under its OPP contract, 2024 provides savings of approximately $4 million. These savings have allowed the Town to recalibrate the 2024 budget in a way that provides long-term fiscal sustainability, reducing the need to rely on one-time funding into infrastructure projects.
The budget includes additional investments in capital infrastructure that are aligned with the Town’s strategic priorities. 2024 will see the Town continue to focus on effective asset management while improving corporate capacity to deliver on programs.
The Town of Orangeville has also solidified its commitment to environmental sustainability and community vitality in the 2024 budget, highlighted through focus on growing and properly maintaining the tree canopy and significantly increasing funding for sidewalk repairs and maintenance. The 2024 budget includes $184,000 for the planting of new trees, taking the Town closer to it’s goal of achieving a 40 per cent canopy by 2040.
“On behalf of Council, I would like to thank our staff for their efforts in putting together a responsible budget that balances long-term fiscal financial responsibility while considering our current financial realities and the impact on our tax payers,” said Mayor Lisa Post. “Setting responsible budgets will help ensure we close the cumulative gaps and avoid creating future critical infrastructure gaps.”
For more background information on the 2024 Budget, see orangeville.ca/budget2024 or visit orangeville.ca/budget.
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