On April 14, 2011, Hamilton City Council approved the 2010 tax budget reducing the tax requirement to an average increase of 2%, a full percent less than the 3% guideline which initiated the process in June of 2009. For the average home assessed at $232,000, the 2% increase results in a $67 additional tax requirement for the year.
Highlights of the 2010 tax capital and operating budget include:
- Over $70 million to improve roads infrastructure
- A $64 million investment in recreation facilities (including Westmount Recreation Centre, Morgan Firestone Arena Twinning, Lower Stoney Creek Recreation Centre)
- A new state of the art Emergency Services training complex
- Replacement of the Emergency Services communication/radio system
- A $15 million investment in city transit services
- Initial funding for the Pan-Am Stadium
- Additional resources to maintain a growing number of parks
- A recreation subsidy program
To achieve only a 2% tax increase, the city budget incorporates over $15 million in efficiencies and savings and reduces the staff complement by over 8 full time equivalents.
This budget also includes $14.2 million in special funding from the Province of Ontario which ensures the City remains cost neutral as the Province uploads various social service costs and reduces associated Ontario Municipal Provincial Funding. Details of final budget can be found in the Approved 2010 Tax Supported Operating Budget (PDF, 374 KB).
The 2010 Water, Wastewater and Storm Budget reflects Council's ongoing commitment and dedication over the past decade to implement a sustainable financing plan while bridging the divide between the funding shortfalls for necessary infrastructure with affordable water rates. This budget calls for a continued commitment through the adoption of a recommended rate increase of 4% or approximately $23.40
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