DISTRICT BUDGET SEES $40 INCREASE ON PROPERTY ASSESSED AT $300,000 — INCLUDING 0.4% HOSPITALS LEVY AND $4.2M FOR AFFORDABLE HOUSING
Mark Clairmont | MuskokaTODAY.com
MUSKOKA — The district is the latest to hold the line — relatively — on taxes.
An almost 4 per cent increase will see property owners paying $40.38 per $300,000 property assessment across its six municipalities.
District council approved a $155.9 million tax-support budget Monday, December 18, reflecting an operating levy of $94.2 million and $61.7 million in capital expenditures.
The district says that as a result of this budget approval, residents will see a 3.94% increase in the district portion of their municipal property taxes to fund municipal services and a 0.4% increase to support hospital redevelopment.
An accompanying chart shows some of the total costs — albeit rolled in together.
It does not break out staffing costs or a total debt the district and its residents carry.
The district taxes represents one third of the overall tax bill along with town and educational portions.
A release from them Monday claims they that face similar pressures to those as Muskoka’s residents, families and businesses. As such it continues to experience pressures tied to inflation and the high costs of construction, supplies and insurance.
Accordingly, the budgeting process focused on achieving the best balance possible — investing in key services and infrastructure to keep pace and prepare for the future while exploring every opportunity to reduce costs and find efficiencies in service delivery.
“We understand the economic pressures facing Muskoka residents and businesses, and we have worked hard to limit the impact to taxpayers wherever possible,” says Jeff Lehman, district chair.
“At the same time, we have a responsibility to maintain services for future community needs. Council and staff faced very challenging decisions together to achieve this budget of balanced priorities.”
2024 Budget Highlights
This budget maintains all service levels and acts on the priorities identified by residents in Council’s new Strategic Plan. Key investments include:
- $4.2M to act on affordable housing and homelessness
- $23M to improve Muskoka’s road network, including $11M for surfacing projects, $1.2M for low-volume road improvements, in addition to Gravenhurst (Bay St.), Bracebridge (Taylor Rd. Bridge), and Highway #118 projects.
- $30M to expand access to 160 beds by redeveloping Fairvern Long-Term Care Home, part of a total investment to $121M
- $1.8M to support future redevelopment of hospital sites in Muskoka and beyond.
- $35.8M to fund future infrastructure needs by increasing our contributions to reserve funds
A rate-support budget for district water, sewer and garbage services was approved by council last month. These services are funded partly by user fees, which are determined by the service levels and vary across the district’s six area municipalities.
Commitment to Muskoka’s financial health
In addition to business planning and budgeting, Council and staff work hard to maintain the District’s strong financial position.
“We do this by participating in a joint investment board with other municipalities to increase our income, and by building up internal savings through District reserve funds. These investments and savings allow the district to fund many projects without using more expensive external loans/debts,” according to Suzanne Olimer, district treasurer and commissioner of finance and corporate services.
The release says council’s commitment to “prudent financial management” is also reflected in its Aa1 credit rating from Moody’s Investor Service, its second-highest rating. They also claim that the strong rating benefits both the district and area municipalities, by helping both levels of government access more competitive borrowing rates.
See more on the budget by visiting www.muskoka.on.ca/budgets
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