2025-2029 Financial Plan

At the April 16, 2025, meeting of the Finance and Audit Committee, City Council was given an update on the 2025-29 Financial Plan. This is part of the annual budget process as Council begins to consider aspects of the coming financial year. Projected property tax increases were projected to be at 6.7%, along with the annual general asset management reserve levy of 1%. This is consistent with the previous year's budget. In 2025 it is projected that sewer user fees with increase 4%, water user fees by 5%, and sanitation user fees by 5.7%. The impact on a typical home will altogether be $264, with total property taxes for an average home being $3078. There will be changes to this provisional budget, and many decision points ahead. Already suggested is an increase to resources for public space cleanliness, as well as increase to road maintenance budget. There is a long budget process ahead, doubtlessly filled with tough decisions.