December 5, 2005
Committee approves 2.9 per cent tax levy that includes $35.9 million in enhancements
The budget increase has been reduced substantially over the past several months, including a 4.6 per cent levy originally proposed to Regional Council on October 27th. The proposed 2006 Budget contains more than $35.9 million in service enhancements and new programs that will benefit York Region residents and businesses. This amount also includes full-year costs (annualizations) for services that began throughout 2005, including the September launch of Viva Rapid Transit.
“This is an extremely responsible budget that keeps the tax levy for Regional residents relatively constant to the current rate of inflation while providing new Regional services and enhancing many of our existing programs,” said York Regional Chair and CEO Bill Fisch. “Unfortunately,
The major components of the $1.6 billion 2006 draft budget include the following:
“The 2006 draft Business Plan and Budget is one of the most heavily scrutinized documents in recent memory and was closely examined by our standing committees to ensure that budget priorities were being met while minimizing the affects to our taxpayers,” said Town of Aurora Mayor Tim Jones, Chair of the Region's Finance and Administration Committee. “York Region residents will continue to benefit from increased financial dollars to
A 2.9 per cent levy represents a modest increase of $50 per household with an average assessed value of $374,000. This represents an extra 14 cents a day to a York Region taxpayer.
The 1.7 per cent tax levy reduction, representing approximately $10 million in savings, was achieved by the following Committee resolutions:
1. Capping of
2. Changing the allocation of the combined federal-provincial gas tax revenues to direct 70 per cent toward operational expenditures and 30 per cent toward capital expenditures from the previously proposed 50:50 ratio – representing a 0.5 per cent or $2.84 million tax levy reduction.
3. Changing the fuel contingency to five cents a litre from 10 cent a litre – representing a 0.1 per cent or $655,000 tax levy reduction.
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