Mayor Lovatt unveils Stouffville 2024 draft budget with proposed 3% blended tax increase
Members of the public can share their thoughts on the draft budget at special council meeting Nov. 21.
Nov. 13, 2023
Whitchurch-Stouffville’s first draft budget under the new strong-mayor powers has been tabled and your property taxes look to be going up. In the budget, Mayor Iain Lovatt presented to council Nov. 8, there is a proposed 1.47 per cent tax levy increase with an additional two per cent for capital asset needs and one per cent for Main Street reconstruction. When combined with the region and education portions of your property tax, the estimated blended tax increase is 3.03 per cent per resident.
“The preparation of this year’s budget was a little different than in previous years,” Lovatt said in a budget statement. “Despite being given these powers, I have committed to my council colleagues that we will continue to work together as a team to advance a budget that focuses on our shared priorities, implementing our strategic plan for the town and, most importantly, you the residents.”
The 2024 draft operating budget for the town is $76,435,110.
Some of the big 2024 capital initiatives include: $3.6 million for Commercial Street, Library Lane and Mill Street reconstruction; $2.26 million for O’Brien Avenue reconstruction; $1.55 million for Bethesda Sideroad resurfacing and $1 million for Main Street reconstruction design.
The town has $24.8 million in outstanding debt, including with annual debt repayments of $3.8 million.
The town’s water and wastewater fees also look to be on the rise. In the draft water and wastewater budget the 2024, there is 4.4 per cent user fee increase effective April 1, 2024.
There is a special council meeting on Nov. 21, where members of the public are welcome to attend to share their thoughts on the draft budgets.To read the draft budget online, visit www.townofws.ca/budgets.