Corp Comm Connects

York Region approves $3.3B budget, 1.54% tax hike

The increase represents an increase of approximately $40 for homes with an average assessed value of $802,000
April 8, 2021

York Regional Council has approved a $3.3 billion budget for 2021. The budget consists of $2.6 billion in operating costs to support the delivery of core regional services and $763 million in capital costs to support new infrastructure.

The budget includes a 1.54 per cent net tax levy, representing an increase of approximately $40 for homes with an average assessed value of $802,000. The approved increase is a reduction of 1.42 per cent from the initial outlook tabled on Feb. 25, 2021.

The 1.54 per cent tax levy will be directed to regional capital reserves, designated to support the region’s robust 10-year capital plan that includes funding for new infrastructure to support growth, as well as funding to maintain and replace the region’s existing assets.

“The COVID-19 pandemic has placed unprecedented pressures on our communities, resulting in council to support a 2021 tax levy lower than the projected 2.96 per cent,” said York Region Chairman and CEO Wayne Emmerson. “During these times, it is especially important we remain steadfast in striking a balance between implementing realistic tax increases and delivering on the critical programs and services our residents and businesses need, expect and deserve.”

The 2021 budget reflects York Region’s strong ongoing response to the pandemic, including supporting the mass COVID-19 vaccination program and economic and social recovery efforts.

The approved 2021 budget supports York Region’s four key priority areas of the 2019 to 2023 Strategic Plan: From Vision to Results which aligns financial resources to Regional Council’s priorities for this term of office.

Examples of services to be delivered in 2021 to support residents and businesses include:

York Region continues to identify internal operational efficiencies and improvements, while making full use of almost $38 million in recent Safe Restart Agreements from the federal and provincial governments. In early March, the province announced York Region would receive $21.1 million to help cover COVID-19 operating costs and $16.7 million for transit-related impacts.

“The four-year multi-year budget process aligns projects with the Region’s strategic plan to ensure we are meeting the immediate and future needs of our growing and diverse communities,” said City of Vaughan Mayor Maurizio Bevilacqua, chair of Finance and Administration. “Through an ongoing commitment to our fiscal strategy, these reserves will help us maintain a strong credit rating and fund future infrastructure projects.”

Additional information regarding the 2021 budget can be found in the following documents:
•    Operating budget backgrounder
•    Capital budget backgrounder
•    Budget infographic

The Regional Municipality of York consists of nine local cities and towns and provides a variety of programs and services to 1.2 million residents and 54,000 businesses with 650,000 employees. More information about the Region’s key service areas is available online.