Aurora eyes 2.9% property tax increase

Hike works out to an additional $70 for the average house assessed at $800,000
Lisa Queen

Yorkregion.com
November 2, 2020

Aurora homeowners are facing a tax increase of almost three per cent on the town’s portion of next year’s property tax bill.

A draft budget, not yet approved, proposes a 2.9 per cent tax increase. That works out to an additional $70 on the average house assessed at $800,000.

The proposed increase doesn't include the regional and education portions of the tax bill.

The town had faced a 3.4 per cent increase in light of financial hardships caused by the COVID-19 pandemic, but council directed that tax hike be reduced.

The budget is fiscally responsible while continuing to provide residents with quality services, Mayor Tom Mrakas said.

“This has been a very difficult year for everyone in the community. It is our responsibility as elected officials to make sure we are acting responsibly with the tax dollars in our care, and with the best interests of citizens in mind,” he said in a statement.

Of the proposed 2.9 per cent tax increase, 0.5 per cent is attributed to financing for Library Square.

Another one per cent is going toward increasing the town’s reserve accounts and 1.4 per cent is for maintaining current service levels.

The town projects spending $296.4 million on capital projects over the next 10 years.

That includes $85.7 million to be spent in 2021, with more than a third, $30 million, slated for Library Square.

Of the 10-year capital funding, 46 per cent will go toward maintaining, repairing and replacing infrastructure while 52 per cent is earmarked for new projects and the remaining two per cent will be spent on studies and other costs.

Aurora is in the second year of its multi-year budgeting process spread over three years.

“The 2021 budget is very much in line with what council approved in 2019 as part of the three-year budget, with some key changes that reflect the changed environment we have encountered in 2020,” chief administrative officer Doug Nadorozny said.

“This has been a challenging year, but one where we have worked together as an organization to identify solutions in service of our community. The 2021 budget reflects that work.”

Council will discuss the budget at a series of virtual meetings beginning Nov. 9, which residents can access at aurora.ca.