On February 22, 2016, Town of Milton Council ratified a budget of $153.8 million for the year 2016, representing an investment of $43.5 million in capital projects and $110.3 million dedicated to operating expenses. The Budget was discussed by the Committee of the Whole on February 8 and 9, 2016.
“Every year, the budget process begins with extensive public consultation, consisting of public meetings and an online survey,” said Linda Leeds, the Town’s Director of Corporate Services and Treasurer. “The Council-approved budget significantly reflects the feedback we received from Milton taxpayers, with the goals of maintaining existing services and enhancing fire services, traffic and transportation and by-law enforcement.”
The Capital Budget of $43.5 million will fund 101 projects in the community, including upgrades and expansions to roads, parks and recreation facilities. Some of the major projects are the reconstruction of Bronte Street (Britannia Road to Louis St Laurent Blvd), development of Community Park South and the early stages of the Sherwood Community Centre and Library. About $21.3 million (approximately 49%) of the capital budget is related to growth in the community and $19.9 million (approximately 46%) is dedicated to rehabilitation or replacement of existing assets. Other technology and studies represent $2.3 million or 5% of the capital budget.
The Town’s Operating Budget of $110.3 million includes new bike lanes, an additional vehicle for Paratransit service, and extended Main Library operating hours. The major service areas that the Operating Budget supports are parks and community services ($0.24 of every $1.00), fire and protective services ($0.21 of every $1.00), and roads and winter maintenance ($0.17 of every $1.00).
The increase of 5.04% in the Town’s urban tax rate (11.77% in the rural area), combined with a 1.9% increase by Halton Region and a 0% increase in educational tax rates will result in an overall tax increase of 2.42% (4.32% in the rural area). This translates to an increase in the Town’s portion of the tax bill of $12.30 for urban residents and $25.42 for rural residents per $100,000 of residential assessed property value. The Town’s portion of the total residential tax bill is 33%, while 42% of taxes are dedicated to Halton Region and 25% to educational services.