Making 'cents' of Georgina's 2020 budget. What you need to know
2020 is already looking to be an expensive year as town hikes taxes 3.9 per cent
Yorkregion.com
Dec. 11, 2019
Amanda Persico
Recently, the town passed its 2020 budget, and here’s what you need to know:
How much it will cost you?
Council approved a 3.9 per cent tax rate increase, which includes a one per cent levy dedicated to the town’s capital reserves program.
This amounts to an additional $78 on the average assessed home valued at about $403,000.
Council also increased the 2020 water and wastewater rate to 6.9 per cent, tacking on an additional $24 to your water bill.
What’s included in the 3.9 per cent tax rate increase:
The largest portion of the town’s 3.9 per cent tax increase stems from contractual inflations -- 2.4 per cent rising salary, payroll and benefit costs. Following that, one per cent is dedicated to capital reserves, 0.5 per cent on enhanced services and 0.4 per cent on debt refinancing, including six months of financing costs for the Link and the Pefferlaw Fire Station.
What it costs to run the town?
The town’s 2020 operating budget is about $77 million, of which about $44.8 million is funded from the tax levy. That means about $15.6 million of the budget is funded from water and wastewater rates, $12.7 million is funded from user fees and other revenues, $2.4 million is from development fees and about $1.6 million is from town reserves.
Some of the town’s largest expenses include $35.7 million on salaries and other staffing expenses; $1.98 million on hydro, gas and sewer charges; $6.6 million on contracted and consulting services; $8.6 million on fire services; $2.5 million on debenture repayment; $1.2 million on winter maintenance; and $560,000 in donations and grants.
Bang for the buck:
Georgina’s 2020 capital budget is set at about $68 million, which includes cash flow funding for the Multi-Use Recreation Centre and the new Civic Centre.
The town’s $77 million operating budget includes:
- $3.1 million -- roads resurfacing and reconstruction;
- $2.4 million -- bridge rehabilitations and replacements, including bridges on Baldwin Road, Frog Street and Old Shiloh Road;
- $360,000 -- playground replacement and improvements at Glenwoods Park, Young’s Harbour and the Sutton multi-use park, as well as an accessible swing at the ROC;
- $332,000 -- operating funding to Routes Transportation, Georgina Trades Training Inc., Georgina Chamber of Commerce, Georgina Art Centre and Gallery, the Military Museum and the Georgina Farmers Market.
