City staff have lowered its recommended operating budget for next year.
As a result staff is recommending the 2017 base budget increase for property owners by 1.69 per cent, down from the 1.98 per cent it previously recommended.
That recommended increase does not include any budget expansions council may decide on or a recommended 0.5 per cent special infrastructure levy.
Final budget deliberations take place Dec. 7.
In real numbers, staff has recommended a base budget increase of $3.7 million, down from $4.3 million. The drop, the city said in a Friday press release, is as a result of an increase in assessment growth - the change (plus or minus) in available property tax dollars for the city.
The Municipal Property Assessment Corporation determines the assessment growth number through the year at which time the City is able to apply that amount to the budget, either lowering or increasing the budget levy change
Given that Guelph’s assessment growth has increased to $3.7 million, the City is recommending that Council approve a 2017 operating budget of $221,944,377 which includes a net tax levy increase of 1.69 per cent.
“The recommended budget of approximately $222 million has not changed. We still need that budget to deliver the programs and services the community needs,” says James Krauter, acting city treasurer, in the press release.
“What has changed is the amount of additional property taxes the City needs to collect to fund the recommended budget. Having additional funds available through assessment growth means that we can lower the net levy amount giving Council more room to consider and address the challenges facing our community.”
All budget documents and related information are posted at guelph.ca/budget.
