The Town of New Tecumseth adopted its 2019 operating and capital budgets at its Feb. 11 council meeting.
The net town taxation levy is $34.9 million, which represents a 2.66 per cent increase after growth. The average home assessed at $420,685, will see an annual increase of approximately $59 for the town portion of the property tax bill and excludes any property tax impact associated with Simcoe County and the school boards.
The town budget includes $29.4M in capital works including:
o Fire Station 4 – phase two construction
o Tottenham Library Branch
o Tottenham Community and Fitness Centre – arena floor replacement
o Increased funding for the Town’s Roads Program
o Tottenham Transmission Main/Mill St. Reservoir – improvements
o Water & wastewater equipment upgrades
o CP Crossing – upgrades / Beeton Creek Crossing – utility relocation
o And many other capital requirements
The water and wastewater budget approval results in a 3 per cent increase to water and wastewater rates effective April 1, 2019. The impact of the proposed rate change for an average residential home using 200 cubic meters of water per year is approximately $24.
The 2019 budget as approved by council is available online at www.newtecumseth.ca.
In regards to the proposed budget item for phase two construction of the administration building, council has directed staff to bring back a report with regard to building and location alternatives and costs to the March 18, 2019 committee of the whole meeting.