April 12 2017
HAMILTON, ON, April 12, 2017 – Building on major accomplishments achieved in 2016, tonight Hamilton City Council approved the 2017 Tax Operating Budget. This year’s budget achieves a 2.1 per cent property tax increase (municipal and educational assessment), which translates to $81 for the average residential property assessed at $315,000 and is the lowest among comparator municipalities.
The 2017 Tax Operating Budget is focused on social and health investments, investments in transit and transportation, supporting business growth and development and tax competitiveness and financial sustainability.
- Investments in the Hamilton Fire Department and Hamilton Paramedic Service including equipment and vehicle replacement – $7.3 million
- Investment in long-term care – $1.7 million
- Investment in affordable housing and housing supports – $1 million
- Investment in transit service/service levels including Limeridge Mall Transit Terminal replacement – $17.7 million
- A $71.9 million investment in roads, bridges, traffic and sidewalk improvements and $11.1 million in roads growth
- Investment in West Harbour development – $27.2 million
- Investment in open space development/parks – $10.5 million
- Investments in Recreation facilities – $14.5 million
- Continued focus on Open for Business, 317 new jobs created in 2016, making it the highest year yet
- Further investment in reserve accounts to maintain a strong credit rating and improve financial sustainability
- Investments in community supports such as City Enrichment Fund – $300K
- $69K towards Naloxone program expansion for Public Health Services
The City also takes in revenues annually from recreation user fees, government grants and subsidies, license and permit fees and property tax revenue, including revenue from the Ontario Lottery and Gaming Corporation (OLG), which provided $5M in revenue in 2016, helping to offset annual costs of delivering programs and services.
“The budget will mean one of the lowest tax increases in memory for Hamilton and is lower than many other municipalities. It was achieved by trimming spending while at the same time continuing to make key investments in things people rely on like housing, transit, roads, sidewalks, infrastructure, health, social services and supports.”
– Mayor Fred Eisenberger