Guelph/Eramosa residents could be looking at a 2.4 per increase to the municipal portion of their property tax bill next year.
The budget and the tax increase are not final until they are approved by council. That vote is set for Dec. 20.
The proposed $21.4 million budget includes $5.7 million in new capital spending, including $1.3 million for a new aerial apparatus to be used by the fire department and several road resurfacing projects.
Township staff, with the exception of council members, are set to receive a 4.4 per cent "cost of living adjustment" salary increase next year. The 2022 municipal election and changes to the fire protection service contract with the City of Guelph are also driving spending higher.
A 2.34 per cent tax increase would be required to fund the budget as presented on Wednesday.
For a home valued at $500,000 that's an extra $30.49 in annual taxation.
The township portion makes up just one part of residents' property tax bills. The county and the provincial portions of that bill — which collectively account for 76 cents of every dollar residents pay in property tax — have not been determined yet.
"While we never like to increase taxes, it's a reasonable rate," Mayor Chris White told the meeting. "Especially considering inflation is sitting at I think 4.7 (per cent). So we're trying to keep costs down and continue to build the infrastructure. Overall I think it's a very reasonable, stable budget."
