Oakville’s Town Council has unanimously approved the 2020 operating budget–$345.5 million, and capital budget–$119.4 million.
The new budget is designed to allow the Town to invest in new infrastructure, while still ensuring long-term fiscal sustainability.
The combined operating and capital budgets increase will result in a two per cent increase of the property tax; this increase will amount to taxpayers paying an increase of $14.73 per $100,000 of assessment–this means the owner of a home assessed at $1,000,000–roughly the average price for a home in Oakville–will pay an additional $147.3 per year.
“This budget keeps us on track to keep taxes in line with inflation, and maintain healthy reserves, low levels of tax-paid debt, and significant funding for building and maintaining infrastructure,” Budget Committee Chair Tom Adams said in a news release.
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Additionally, other key points of focus for the 2020 budget include funding for the new Oakville Trafalgar Community Centre, the downtown Lakeshore Road reconstruction, the new fire station at Pine Glen and Bronte Road, improvements to North Service Road and Speers Road, stormwater and erosion control, electric buses and active transportation infrastructure, enhancements to the Crosstown Trail, improved parks and trails including the Bronte Athletic Field and St. Ann’s Park, as well as renovations at 16 Mile Sports Complex and River Oaks Community Centre.
“In 2020, Town Council will focus on building a climate change resilient community,” Mayor Rob Burton said in the same release.
“We’re protecting our greenspace by investing in environmentally sustainable practices, and maintaining our high-quality programs, services, and infrastructure to keep Oakville one of the most livable and fiscally healthy communities in Canada,” he continued.