After months of planning and preparation by staff, culminating in a comprehensive review and deliberation by Council, the proposed 2024 budget will be considered for adoption at the upcoming Council meeting scheduled for December 5, 2023.
Proposed levy and total budget
The budget, endorsed by the Finance Committee consisting of all Council members, reflects a total municipal levy for 2024 of $28 million, constituting approximately 44% of the Municipality's overall $63 million budget. This translates to an estimated $325 or a 7.4% increase to the property tax bill for the typical homeowner based on MPAC's assessed value of your property. Please note that this increase represents the local municipal portion of your tax bill and is not inclusive of impact from Northumberland County or education.
To secure the additional funds needed, the Municipality plans to leverage a mix of grants and subsidies from higher levels of government, the utilization of reserves to fund substantial capital projects and initiatives, rely on fees for services, and engage in various revenue-generating activities.
Proposed budget considerations
The proposed 2024 budget balances significant inflationary pressures, maintaining smooth delivery of municipal operations, and ensuring our infrastructure funding shortfall does not get worse.
Proposed budget information
For your convenience, budget documents and presentation slides from the Finance Committee meeting are accessible on My Port Hope, our community engagement website. Additionally, recordings of the meeting are available for review.
Should the budget receive approval on December 5, further communications will be shared with the community.
Questions?
As always, we encourage you to direct any budget-related questions or concerns to Council and budget process-related questions to the Finance department.
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