Collingwood residents will see an increase of about two per cent on their property tax bills this year.
The local council passed a 1.67 per cent tax increase (about $40 for a median assessed household), which is added to the County of Simcoe tax rate for a blended increase of 1.95 per cent, or about $75.66 per year for a home assessed at $327,000, which is the median for the municipality.
Currently, the school board is proposing a zero per cent increase, but if that changes, it will impact local tax bills as well.
The final vote was cast during council's first meeting of the year on Jan. 8, locking in the 2024 budget of $71.3 million for operating expenses and another $71.1 million in capital expenses.
In a news release, the town highlighted the following items from the 2024 budget:
Highlights of the 2024 Municipal Budget:
- Affordable Housing – Council has prioritized affordable housing by continuing with a $350,000 investment to move forward with the recommendations in the Affordable Housing Master Plan.
- Community Spaces – Council continues to support investment in Community Spaces: Art Centre Feasibility Study ($100,000); investments into the Eddie Bush Arena, Central Park Arena, and the Outdoor Rink ($575,000); Three new parks (Wilson Sheffield, den Bok Family Park (in Summit View) and the Ste. Marie St. Public Realm Space ($4.6M); Old Village Park washroom / storage facility (beside the Legion) $450,000); Hens and Chickens Trail Bridge Replacement ($475,000); Tree canopy investments ($260,000); Collaborative Feasibility Study with Town of Blue Mountains to move toward a Multi-Use Recreation Facility ($125,000).
- Terminals Point Project – Council continues to support moving forward with the revitalization of the grain elevator and Terminals building and the surrounding lands ($500,000).
- Keeping our Assets in Good Condition – Council recognizes the value in investing in our fundamental town needs, including the renewal of our core assets like roads and bridges by supporting the Asset Management Plan ($3.3M).
- Wastewater Treatment Plant rehabilitation work – As part of the town’s Asset Management Plan (AMP) to continue providing effective Wastewater Treatment, the town will invest in: Digester repairs, Boiler replacement and Screw Pump Rehabilitation ($7.5M). These projects form part of a 10-year work plan.
- Road works and Rehabilitation Projects – Council is aware of the interest from residents in Collingwood’s roads, so is prioritizing several major investments in road works and rehabilitation projects in 2024: Asphalt resurfacing projects of nearly 7KMs of road ($2M); Second Street Bridge Rehabilitation ($1.5M).
- Transportation Master Plan – The town is initiating a Transportation Master Plan (TMP) to enhance our existing transportation network. The TMP will provide the long-range planning necessary to identify needs, establish priorities between vehicles, active transportation (e.g., cycling, trails) and transit, and provide a planning framework for future infrastructure improvements and network development ($463,000).
To learn more about the budget process and view financial information for the town, please visit www.collingwood.ca/budget.
More to come.
