WELLINGTON COUNTY ‒ New changes to the County of Wellington's 2024 budget should reduce the proposed tax levy increase to 4.8 per cent.
According to county treasurer Ken DeHart, the tax levy increase proposed for the 2024 budget will sit under five per cent after the economic development committee voted to redirect $600,000 of $1.6 million in rural broadband project funds to facilitate a smaller increase earlier today.
As a result, the 2025 budget is projected to increase to 4.7 per cent.
A report previously projected a 5.3 per cent tax increase for 2024, followed by 4.2 and 3.6 per cent increases in 2025 and 2026.
"Obviously the number is higher than what we're used to seeing," said DeHart, during an administration, finance and human resources committee meeting Tuesday afternoon. "But between the inflation, which has been dramatic, especially with construction cost estimates, all of the economic impacts that are listed in the report have had a pretty dramatic impact on our levy requirements."
Included within the new preliminary 10-year plan, the county has also spread out the existing 10-year timeline for the construction of four county garages, estimated at $74.1 million, and deferred its plans to build five ambulance stations, estimated at $45.5 million, until 2027.
One of three parts on a property tax bill, with the other two portions being from the lower-tier municipality and education, county tax rates have increased by an average of 2.4 per cent annually for 14 years between 2009 and 2022.
According to DeHart, a one per cent levy increase is equal to $1.2 million.
Isabel Buckmaster is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
