Springwater has passed its 2022 budget, which includes a 2.73% municipal property tax increase.
When combined with the County of Simcoe approved tax increase of 2% and the education rate which is expected to remain neutral, residents can expect to see a 1.98% blended tax increase on their 2022 tax bill.
For an average home in Springwater assessed at $489,000, the approved blended rate amounts to a $79.87 increase over 2021 levels or $6.66 per month.
For every tax dollar spent:
- $0.49 is retained by the Township of Springwater (includes Policing);
- $0.33 goes to the County of Simcoe; and
- $0.18 goes towards Education.
The 2022 Budget includes expenditures of $48.6 million, which can be broken down into $22.9 million in operating expenses, $20.6 million in capital expenditures, $3.0 million for water operations and $2.1 million for wastewater operations.
The 2022 Budget was originally tabled on November 17 with a 2.86% blended tax increase, including the proposed program changes. However, during budget deliberations Council directed staff to identify ways to limit the blended tax increase to a maximum of 2% this year. On December 15, staff presented Council with two options for their consideration as a means to achieving this directive.
This year continues to bring unprecedented challenges for residents and businesses as many struggle to deal with the impacts of the COVID-19 pandemic. By approving a 1.98% tax increase, Council is delivering a prudent budget that keeps the levy increase as low as possible while making necessary investments in critical community services and infrastructure.
The 2022 Budget includes an investment of $5.2 million for Springwater Fire Station 2, which will be built at the corner of Bayfield Street North and Snow Valley Road as part of the new Community Hub project. Springwater residents will also see road, traffic and other infrastructure improvements. This is in addition to the continued services residents expect, including fire & emergency services, winter road maintenance, libraries and by-law enforcement.
“We appreciate the efforts of staff to create a fiscally responsible budget that is mindful of the current financial pressures faced by many of our residents,” says Springwater Mayor Don Allen. “Staff worked hard to find efficiencies and ways to reduce the tax rate increase to what Council feels is realistic to provide the necessary service levels and capital requirements for our growing Township in 2022.”
To learn more about Springwater’s 2022 Budget, please visit springwater.ca/Budget.
Media Release: Springwater Council approves 2022 Budget with 1.98% blended increase
Get all the details: https://t.co/bNvXkKnzzi pic.twitter.com/npd0DGKmjg
— Springwater Township (@springwatertwp) December 18, 2021