City of Hamilton City of Hamilton
Submit SearchSubmit Search

2012 Tax Supported Operating Budget

2012 Tax Supported Operating Budget Approved

O
n April 11th, 2012, Council approved the final 2012 tax operating budget. Highlights include enhancements to a number of services, maintaining service levels for all other programs and freezing transit fares. The budget provides key investments in infrastructure funding, additional transit services and social service programs.

From an initial starting point in January, facing a 2.0% tax increase, Council engaged staff in a process of finding budget savings and efficiencies in excess of -$8.2 million. These savings reduced the total average residential tax increase to 0.9%.

Change (2012 over 2011)

PRELIMINARY

APPROVED

$

%

$

%

Municipal Taxes 1

    City Departments

$23

0.8%

($14)

-0.5%

    Grant Loss

$17

0.6%

$17

0.6%

    Boards & Agencies

$12

0.4%

$12

0.4%

    Capital

$14

0.5%

$14

0.5%

Total Municipal Taxes

$67

2.3%

$29

1.0%

Education Taxes 1

$1

0.3%

$2

0.3%

Total Tax Impact

$68

2.0%

$31

0.9%

Note - Dollar impacts based on City-wide average residential assessment of $258,000. Totals have been rounded.

To view the Final Budget Book click here.

For the average home assessed at $258,000, the budget will add about $31 to their tax bill. Property owners may have an increase higher or lower than the 0.9% average due to changes in assessment and/or area rating policies.

For additional information related to the 2012 Tax Operating Budget click here.