Town of Newmarket approves 2.95% tax increase for 2019 budget

Residents will see an increase of $58

YorkRegion.com
March 6, 2019
Teresa Latchford

The Town of Newmarket has officially approved its 2019 budget with a 2.95 per cent increase.

Based on a home with a property assessment value of about $607,000, residents will see an increase of $58 on the town portion of their tax bill, a water/wastewater rate increase of $58 and a storm water rate increase of $4.

“Council and staff worked hard to ensure this budget strikes the right balance between investing in our future, while keeping the tax level below the GTA average,” Newmarket Mayor John Taylor said. “Financial sustainability is one of council’s top strategic priorities and we will continue to review operations for efficiencies, while ensuring Newmarket is poised for success in the short and long term.”

The 2019 budget includes:

$2.4 million toward trails and active transportation
$1 million for replacement of bridges and culverts
$4.8 million for completion of Central York Fire Services Station 4-5
$6.6 million for road rehabilitation
$1.7 million for fleet replacement
$1.6 million for road resurfacing
$150,000 for Mulock Farm will be put into reserves for future use

The total approved 2019 operating budget is $130.8 million and the capital budget is $27.7 million, with a combined total of $158.5 million.

For more information, visit Newmarket.ca.