Oakville mayor proposes property tax increase of more than four per cent for 2024

Oakville residents should expect a municipal tax increase of more than four per cent following the proposed 2024 budget put forward by Mayor Rob Burton.

The Mayor’s proposed budget, which was tabled at the Nov. 20 Council meeting, put forward a 4.38 per cent tax increase, which is below the increase recommended by the Budget Committee and is expected to be the lowest increase when compared to neighbouring municipal budget discussions that are underway.

“The proposed budget increase of 4.38 per cent is well below any of our neighbouring cities,” said Burton.

“The proposed budget effectively addresses financial challenges by strategically investing in initiatives that promote environmental, social, and economic sustainability within our community. I look forward to continuing to work with Council and the public to ensure a budget that truly serves the best interests of Oakville’s livability and vibrancy.”

A 4.38 per cent tax increase would see residential property taxes increase by $33.30 per $100,000 of assessment, meaning the owner of a home assessed at $800,000 would pay an additional $266.40 per year or $5.12 per week.

The town’s proposed 2024 Operating Budget supports the delivery of a wide range of programs and services, including maintenance of roads and community facilities, fire services, transit, parks and trails, recreation and culture, seniors services, libraries, and others.

The proposed 2024 Capital Budget supports infrastructure renewal, growth, and program initiatives. Some of the draft capital projects include:

• $22.8 million for new parks, parkettes and trails, and to rehabilitate and renew existing parks
• $21.5 million for parkland acquisition for future park development
• $18.9 million for transit electric vehicles and charging infrastructure
• $14.1 million for construction of the permanent Fire Station 9 in North Oakville
• $9 million for the road resurfacing and preservation program
• $6.2 million for traffic management, traffic signal program, traffic calming and road safety program to promote safe travel and pedestrian safety on town roads
• $5.4 million for Downtown Cultural Hub
• $5.1 million for land for the design and construction of a snow storage facility
• $5 million for land purchase for a future Trafalgar corridor north library

Input from residents can be provided by delegating at the Special Council meeting on Nov. 28 by emailing [email protected] by noon on that day. Public feedback can also be provided by emailing [email protected], the respective Councillors or the town at [email protected] before Dec. 20.

A Special Council meeting will be held Dec. 20 for Council to consider any amendments to the budget.

Visit the 2024 Budget page for more information, including departmental presentations.