First go at Markham budget eyes 3.8% tax hike


Yorkregion.com
Jan. 23, 2015
By Brea Bartholet

Budget deliberations in Markham are officially underway - and your wallet could be out an extra $40.

Make that $41.92 to be exact based on the 2015 average value of a residential home of $552,000 within the city.

That number translates to a total tax rate increase of 3.81 per cent, according to information presented by city staff this morning.

Councillors had their first glimpse of the preliminary 2015 numbers, which currently sit at an overall budget total of $190,690,000. Compared to last year’s $187,591,000, it’s a projected increase of $3,089,000.

The proposed percentage - which seems like a bit of a leap from 2014’s 2.49 per cent increase - is something Mayor Frank Scarpitti would like to see reduced.

“I hope we bring this proposed tax budget and percentage down from where it sits right now,” he said.

“We need to look at more efficiencies as we go through the process and it is certainly my desire to decrease the rate from 3.81 per cent.”

At this point, it is too early to determine where specific cutbacks can be made as council is still anticipating a minimum of five remaining budget meetings, a public meeting and final budget approval process - expected to last until the end of March.

A tax rate increase forecast over the next three years was also included in the 55-slide presentation based on current trends. The outlook predicts a 3.89 per cent increase in 2016, 4.27 per cent increase in 2017 and 4.26 per cent increase in 2018.

The next budget meeting, scheduled for Feb. 4 at 9 a.m. in the Canada Room at the Markham Civic Centre, will focus on the city’s capital budget. Members of the public are welcome to attend.

Today’s full presentation can be found by visiting http://bit.ly/1EaZWmz