Budget Highlights
What is the budget and how does it impact taxes?
What is the 2022 budget?
The 2022 Budget ensures that Oakville remains one of the most livable and fiscally healthy communities in Canada. This includes:
- $327.7 million operating budget (for high-quality programs and services for residents and businesses, and pandemic response); and
- $276.3 million capital budget (to fund new community facilities, improve transit, maintain roads, bridges and other infrastructure etc.)
The budget delivers the services our citizens want, improves programs through efficient and innovative solutions, maintains infrastructure, advances the strategic priorities, and keeps taxes under inflation.
How does the 2022 budget impact property taxes?
The 2022 budget translates into a combined property tax increase of 1.50 per cent which includes:
- 0.7 per cent impact for Town of Oakville services (for recreation, parks, town planning, enforcement, roads, business development etc.).
- 0.8 per cent impact for Halton Region services (health, policing, water and waste management, social services etc.)
- 0 per cent impact for School Boards
Did you know that the town’s 1.5 per cent increase in property taxes is the lowest among Halton municipalities?
In 2022, an average Oakville home assessed at $800,000 would pay an additional $86.40 per year or $1.66 per week.
Note: All numbers are rounded off.
How much does the town get from residential taxes?
The town gets about 42 cents of every residential property tax dollar collected.
*Based on 2022 assessment information and the 2022 approved budget.
How much does the town get from commercial taxes?
The town gets about 27 cents of every commercial/industrial tax dollar collected.
*Based on 2022 assessment information and the 2022 approved budget.
The tax money allocated to the town is used as follows: Every $100 dollars paid in taxes supports the various programs and services provided by the town:
How your town tax dollars are spent
What are the key investments in the 2022 town budget?
The 2022 town budget helps advance on the town’s strategic priorities of Livability, Mobility, Environment, Accountable Government, and Engaged Community. Some examples:
- $47.2 million to develop North Park Community Centre and Library
- $44.2 million for road widening with active transportation enhancements (Sixth Line – North Park to William Halton; Speers Road – Fourth Line to Dorval Drive)
- Continued implementation of the 5-year Economic Development Strategy, and pandemic recovery support for businesses
- $16.9 million for electric, conventional and specialized transit vehicles to improve your ride
- $27.4 million for parks, trails and parks facilities renewal and rehabilitation; and new parkettes, sports fields and trails in North Oakville
- $1.7 million in traffic management and calming infrastructure to promote safe travel and pedestrian safety on town roads
To learn more, review the full budget document (pdf).