Guelph/Eramosa approves budget, 2.31% tax increase for residents
GUELPH/ERAMOSA – Council here has passed the final draft of the 2022 budget, which will see a 2.31 per cent tax rate increase for Guelph/Eramosa residents.
This works out to about an additional $30.49 on property tax bills for a home assessed at $500,000, down slightly from what was initially presented to council in a Nov. 17 committee of the whole meeting.
On Dec. 20 council approved a bylaw to adopt the 2022 budget as presented.
Total spending in the 2022 budget came in at $21.4 million to fund municipal operations and capital initiatives.
Of that $21.4 million, $7.4 million (34.6%) will be funded through property taxes with the remaining to be sourced from user fees, grants, development charges and reserves.
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An additional $173,658 in property tax revenue is required to fund the 2022 proposed budget, setting the tax levy for 2022 at $7,605,260, an increase of 2.34% from the 2021 budgeted levy of $7,431,602.
Taxpayers will pay an additional $6.10 in township taxes per $100,000 in residential assessment in 2022, an increase of 2.31%.
Township operating expenditures came in at $14,754,339 for 2022, up from the 2021 budgeted figure of $14,153,293.
Total capital expenditures are set at $6,687,415 for 2022, representing just over a $2.5 million increase from $4,100,040 in 2021.
Township revenue for 2022 is budgeted at $14,012,654, up from the $11,090,731 in revenue budgeted for 2021.
Highlights in the 2022 capital budget include the purchase of an aerial fire truck for $1,298,315, which was approved by council earlier this year.
The public works capital budget came in at $3,133,000 which includes $530,000 for the resurfacing of Indian Trail from Wellington Road 29 to Wellington Road 44 and the repaving of about 1.8km of Jones Baseline between Stone Road and Highway 7 for a cost of $448,000.
The budget will see a 4.4% cost of living adjustment for staff, excluding councillors, who decided to freeze their salaries for another year.
