The total City of Hamilton budget is made up of three separate components as follows:
- Tax Operating Budget - funds ongoing financial obligations and costs to provide programs and services to taxpayers and the public.
- Tax Capital Budget - supports infrastructure investments such as buying or building fixed assets including buildings, equipment, vehicles, and land.
- Rate Operating and Capital Budgets - fund operating and capital costs for water, wastewater and storm programs.
Budget Approval News
- On April 9, 2014 City Council approved the 2014 Tax Operating Budget with a 1.5% increase or approximately $53 for the average residential property.
- On December 11, Council approved the 2014 Tax Capital Budget and 2014 Rate Operating and Capital Budgets.
- The 2014 Tax Operating Budget supports the City’s Strategic Plan and Business Plans as well as external Boards and Agencies including Police and Library.
- Throughout the budget process, significant measures were taken to reduce the local tax burden while enhancing financial sustainability. Council has made key investments in services like transit, EMS and adult day programs.
- The 2014 budget also reduces reliance on reserves and makes necessary investments in our infrastructure.
- For the past four years the budget has protected services while holding the total tax increase at a competitive level in the face of continued assessment growth challenges in the industrial sector. The average total tax increase for the past 4 years is 1.3 per cent while assessment growth has averaged 1.0 per cent.
- Date modified: