Oakville releases 2023 Budget documents and invites public input

At the Town of Oakville Budget Committee meeting held today, staff presented Oakville’s proposed 2023 operating and capital budgets, as well as the forecasted operating increase for 2024 and 2025 and the 2023-2032 capital forecast. Ward 3 Town and Regional Councillor, Janet Haslett-Theall was appointed as the 2023 Budget Committee Chair and presided over the meeting to receive staff’s proposed budget.

Town staff recommended the 2023 budget with a 5.43 per cent increase to the town’s portion of the tax levy, for an overall property tax increase of 3.52 per cent when combined with the projected regional and educational tax levies. The proposed 3.52 per cent increase, if approved by Council, would see residential property taxes increase by $25.78 per $100,000 of assessment meaning that the owner of a home assessed at $800,000 would pay an additional $206.24 per year or $3.97 per week.

The proposed 2023 budget and forecast was prepared prior to Bill 23, More Homes Built Faster Act being passed and does not include the impact of these legislative changes.

The town awaits further information and clarification on the commitment the province has made to ensure the town receives the necessary funding support to address the new housing legislation.  

The town’s proposed 2023 Operating Budget of $347.6 million will support the delivery of a wide range of programs and services, including maintenance of roads and community facilities, fire services, transit, parks and trails, recreation and culture, seniors services, libraries, and others.

The Budget Committee also received the proposed 2023 Capital Budget of $156.8 million to support infrastructure renewal, growth, and program initiatives. Some of the capital projects for 2023 include:

The annual budget process also includes the Budget Committee’s review of the town’s rates and fees for programs and services offered to the community (such as transit fares and recreation and culture program fees), and the estimated costs of administering and enforcing the Building Code Act and the Planning Act. Most of the proposed changes to the 2023 Rates and Fees are in line with the Bank of Canada’s average 2023 inflation forecast of 4.6 per cent.

The final recommended budget will go forward to Council for approval on February 27, 2023. Until then, the public is encouraged to follow Budget meetings, learn more and share their feedback through the following opportunities:

All Budget Committee and Council meetings are broadcasted on the town’s YouTube channel.

A Virtual Budget Open House hosted by Councillor Janet Haslett-Theall, Budget Committee Chair, will be held soon and details and registration information will be posted on oakville.ca.

Visit the 2023 Budget page for more information and email budget@oakville.ca to provide input.

“The lingering impacts of the pandemic require consistent and concerted efforts to maintain town services and infrastructure, and plan for future growth. The proposed 2023 Budget is a roadmap that will guide Council with future-focused, inclusive and fiscally responsible decisions. I want to thank staff for their hard work and dedication in developing this draft budget that builds on the town’s sound financial position and respects taxpayers.”

Mayor Rob Burton

“With Council’s direction, town staff have prepared a budget that keeps property taxes below inflation while delivering on strategic priorities and maintaining high-quality amenities and services that Oakville is recognized for. The committee now begins the important work of reviewing the recommendations, receiving further details on programs and services, and considering any adjustments or additional needs that should be reflected in this budget. We look forward to collaboratively shaping the final budget with the support of our residents and businesses to keep the town sustainable for now and in the future.”

Regional Councillor Janet Haslett-Theall, Budget Committee Chair