Town proposes 3.52 per cent property tax increase for Oakville residents

Oakville residents are going to be paying more in taxes this year.

At an Oakville Budget Committee meeting held Tuesday (January 17), Town staff have recommended a 5.43 per cent increase to the town’s portion of the tax levy in the 2023 budget, which adds up to  3.52 per cent when combined with the projected regional and educational tax levies.

If approved by Oakville Council, the proposed 3.52 per cent increase would see residential property taxes increase by $25.78 per $100,000 of assessment meaning that the owner of a home assessed at $800,000 would pay an additional $206.24 per year or $3.97 per week.

Those numbers, though could climb.

The proposed budget was prepared prior to the province’s Bill 23 – More Homes Built Faster Act – being passed and doesn’t include the impact of its legislative changes.

Oakville says it is waiting on further information and clarification on the commitment the province has made to ensure the town receives the necessary funding support to address the new housing legislation.

“With Council’s direction, town staff have prepared a budget that keeps property taxes below inflation while delivering on strategic priorities and maintaining high-quality amenities and services that Oakville is recognized for,” said Ward 3 Town and Regional Councillor Janet Haslett-Theall, Budget Committee Chair.

“The committee now begins the important work of reviewing the recommendations, receiving further details on programs and services, and considering any adjustments or additional needs that should be reflected in this budget.”

Both the proposed 2023 operating and capital budgets, as well as the forecasted operating increase for 2024 and 2025 and the 2023-2032 capital forecast, were presented at the meeting.

The proposed 2023 Operating Budget of $347.6 million by the Town will support 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 Budget Committee also received the proposed 2023 Capital Budget of $156.8 million to support infrastructure renewal, growth, and program initiatives. Some of the capital projects for 2023 include:

• Development of the Downtown Cultural Hub plan to build on the vision and objectives of the Downtown Plan
• $12.1 million for Khalsa Gate urbanization and streetscape with active transportation
• $10.7 million for conventional and specialized transit electric vehicles
• $9.0 million for the road resurfacing and preservation program
• $8.8 million for parking lot, driveway and maintenance of town facilities
• $8.3 million as part of the town’s share of funding for the multi-year construction of Burloak Drive Grade Separation with active transportation
• $6.7 million for parks, trails and parks facilities renewal and rehabilitation
• $6.4 million to develop new neighbourhood parks, parkettes and trails
• $4.7 million to support the health of the tree canopy and natural environment through the Emerald Ash Borer program, invasive species audit/control, woodlot preventative maintenance and tree planting
• $4.2 million for stormwater and erosion control infrastructure improvements
• $2.4 million for emergency vehicles and equipment

The annual budget process also includes the Budget Committee’s review of the town’s rates and fees for programs and services offered to the community (such as transit fares and recreation and culture program fees), and the estimated costs of administering and enforcing the Building Code Act and the Planning Act.

Most of the proposed changes to the 2023 Rates and Fees are in line with the Bank of Canada’s average 2023 inflation forecast of 4.6 per cent.

“The lingering impacts of the pandemic require consistent and concerted efforts to maintain town services and infrastructure, and plan for future growth,” said Oakville Mayor Rob Burton.

“The proposed 2023 Budget is a roadmap that will guide Council with future-focused, inclusive and fiscally responsible decisions. I want to thank staff for their hard work and dedication in developing this draft budget that builds on the town’s sound financial position and respects taxpayers.”

The final recommended budget will go forward to Council for approval on February 27, 2023. Until then, the public is encouraged to follow Budget meetings, learn more and share their feedback through the following opportunities:

Budget Committee Meetings

January 24, 2023, 9:30 a.m. – staff presentations

January 26, 2023, 9:30 a.m. – staff presentations

February 14, 2023, 9:30 a.m. – public delegations

February 16, 2023, 6:30 p.m. – public delegations

February 21, 2023, 9:30 a.m. – Budget Committee deliberations and recommendations

All Budget Committee and Council meetings are broadcasted on the town’s YouTube channel.

A virtual Budget Open House, hosted by Haslett-Theall, will be held soon and details and registration information will be posted on oakville.ca.

For more information on this year’s budget, visit Oakville’s 2023 Budget page.