After four drafts, three months and much discussion and input, Collingwood council gave their final stamp of approval to the town’s 2025 budget on Monday night, drawing to a close another annual budget cycle for the town.
The tax increase for Collingwood residents in 2025 is now locked in at 3.18 per cent.
For the 2025 budget with the 3.18-per-cent tax increase, the town is expected to bring in $41.9 million in taxes next year. The entire Collingwood 2025 budget is $197.9 million.
Once Collingwood’s increase is combined with county and educational taxes, the blended tax rate translates to an increase of 1.24 per cent, an increase of 2.89 per cent over the previous year.
“I want to thank staff and particularly our treasurer (Jennifer) Graham for all her hard work,” said Mayor Yvonne Hamlin following the approval. “Thank you to council and our community who took the time to weigh in.”
“I think we’ve got a great budget,” she said.
Hamlin pointed to appendix G of the budget, at the very end of the budget book, that explores the town’s 10-year capital plan. The tentative plan includes which projects – including roadwork, parks plans, a new library and a new multi-purpose facility – are being planned for into 2035, including expected costs.
“Anyone who’s looking for timelines for things we get questions on – like, when is High St. going to be done? – all the answers are in there,” she said.
Where do your Collingwood tax dollars go?
For every $100,000 of MPAC assessment on a home in Collingwood, the taxpayer will pay $780.12 in 2025 in municipal taxes. That can be further broken down by department:
The following departments are allocated less than $5 per taxes from $100,000 of assessment.
Emergency management - $2.05
Corporate fleet - $1.38
Municipal law enforcement - $2.88
Talent management - $2.71
Municipal elections - $1.71
Government services - $0.87
Records - $3.44
Climate change action - $2.56