Markham passes $669-million budget for 2023 with 3% tax hike

Property tax on average residential household will increase $39 per year

Yorkregion.com
April 14, 2023
Yoyo Yan

Markham council approved the city’s 2023 budget of $669 million on April 5, including a three per cent property tax rate increase.

In a statement, the city called it a fiscally responsible budget that supports the continued delivery of the high quality city services that residents have come to expect, while also making sure it supports key capital investments in facilities, infrastructure and amenities that support Markham’s strategic goals.

The three per cent property tax rate increase is below the rate of inflation and will mean an increase of approximately $39 per year in property taxes for the average residential household in Markham.

The tax rate increase includes 2.4 per cent for day-to-day operating costs and an additional 0.6 per cent infrastructure investment to ensure there are sufficient funds in city life cycle reserves to repair and replace assets for the next 25 years.

“The 2023 Markham budget strikes the right balance between investing in important programs and services, while also keeping property taxes as low as possible in order to provide residents with relief during uncertain times,” said Markham Mayor Frank Scarpitti.

“Budget 2023 makes key investments in a range of areas, including advancing our flood protection program, expanding the Markham Centre Trail, and replacing a major artificial turf field in east Markham,” said Scarpitti.

Major 2023 capital investments include funding to improve road infrastructure and enhance traffic and pedestrian safety ($100.4 million), flood control program ($25.7 million), and net-zero emissions retrofits to Centennial, Thornhill and Clatworthy community centres ($20.4 million).

Key investments also include $17.8 million for parks and $2.9 million for the Markham Public Library.