Guelph, Ont., November 18, 2016 — Today, the City announced it has revised the 2017 recommended operating budget to reflect an increase in assessment growth, changing the recommended base budget increase from $4.3 to $3.7 million, or 1.98 to 1.69 per cent.
Assessment growth is 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. “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.”
The City’s has released its budget simulator giving residents one more way to share their views on the recommended budget with the City and Council. The budget simulator, which focuses on the tax-supported operating and capital budget, is available until November 28 on guelph.ca/budget.
Feedback collected between now and November 28 will be shared with Council at the Public Delegation meeting on November 30.
2017 City Budget
Residents are invited to review proposed tax-supported documents and bring their comments to Council on November 30 (Public Delegation Night), and to follow the City’s budget news on guelph.ca/budget, Twitter (@cityofguelph, #GuelphBudget) and facebook.com/cityofguelph.
All budget documents and related information will be posted on guelph.ca/budget as they become available.
Coming up next
- November 30, 2016 – Public delegation (6 p.m.)
- December 7, 2016 – Council deliberations and approval (2 p.m.)
All Council meetings will be in Council Chambers, City Hall, 1 Carden Street.
For more information
James Krauter, Acting City Treasurer
General Manager Finance
519-822-1260 extension 2334