After four separate days of chipping away and crunching numbers, the City of Quinte West was finally able to nail down a 2024 budget.
Council settled on a 6.66% tax levy increase for 2024, an increase from 5.36% in 2023. In dollar terms the increase means an increase of a little over $200.00 on each $250,000 assessment.
At the beginning of December 2023, the city released an initial draft budget that showed an increase of 9.26%.
That number was eventually lowered to 7.16% following several meetings regarding the budget, finishing at 6.66% at its last special council meeting regarding the 2024 budget on Monday.
The increase is separated into three different categories, Municipal Departments, External Agencies/Partnerships and the Capital Levy.
Of the total tax levy increase, 3.19 per cent will go towards Municipal Departments, 1.97% will go towards External Agencies/Partnerships and 1.5 per cent will go towards the capital levy. Some councillors were looking to lower that number to one per cent, which would have made the total tax levy increase 6.16 per cent.
Among them was Councillor Egerton Boyce. “It’s just that it’s a really, really, really tough year and I won’t support 1.5 per cent. I said I would get it down to around one per cent. That’s where I’d be,” Boyce told council when discussing the capital levy increase.
On the other end was Councillor Michael Kotsovos, who said he wouldn’t support a one per cent capital levy increase saying the city can’t get too low when it comes to its total tax levy increase.
“Keeping in mind, Quinte West last year passed a 5.36% (total tax levy increase) when most other municipalities were well over seven and eight per cent. So we were lower then and I think we’re going to be lower this year as well, but we can’t drive it so aggressively that we’re just going to constantly be at that six and seven per cent increase year after year,” Kotsovos told council.
“We want to try and get it back down in future years to that two per cent and three per cent that’s more comfortable for all.”
In a press release issued by the City of Quinte West, these were among the highlights of the budget:
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A $25 million investment to fund capital projects including $12.7 million for road work, including $1.55 million for the reconstruction of a portion of Victoria Avenue.
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Contributing $700,000 to the city’s Housing Affordability reserve representing the city’s largest commitment to supporting affordable housing solutions to date.
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Increasing the city’s property tax rebate from $600 to $675 to support eligible residents who receive Ontario Disability Support Program funding or qualify for a Low-Income Senior Property Tax credit.
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Increasing the cost of bag tags from $3 to $3.25 per tag to generate approximately $150,000 in revenue which will help offset the cost to operate the city’s waste management program.
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$30.3 million in funding to external agencies that deliver important community programs and services, including public health and health care services, conservation authorities, transit, and libraries.
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$1 million in combined increased funding to local police, fire and emergency services.
The approved total budget is $80.6 million.
More on the budget can be found at the City of Quinte West’s website.
Infographic for initial draft budget to final budget approved in 2024. (Submitted by: City of Quinte West)
