By Shazia Nazir, Local Journalism Initiative Reporter, The Milton Reporter
The Town of Milton has officially finalized its 2024 budget, signifying a robust commitment to the community’s expansion and the enhancement of essential services. With an impressive allocation of $83.7 million towards capital projects and $192.3 million through the operating budget, the town is set to address the evolving needs of its growing population.
The 2024 budget strategically aligns with the Council’s and the community’s priorities, channelling investments in various areas.
The capital portion of the budget, totalling $83.7 million, will fuel 144 projects. These projects encompass new infrastructure to accommodate Milton’s ongoing growth alongside the vital rehabilitation and replacement of existing structures.
Meanwhile, the operating budget, amounting to $192.3 million, is dedicated to the day-to-day operations that deliver crucial services to the community. This funding will support services ranging from fire safety, snow clearing, road and park maintenance, transit, and the Milton Public Library to stormwater pond maintenance, culture, and recreation.
Given that the Town of Milton is responsible for collecting property taxes for three agencies – Town of Milton, Halton Region, and provincial school boards – residents are reminded that their property tax bill combines these three entities. The 2024 budget anticipates an overall property tax increase of 5.93 percent, pending approval of the Halton Region and provincial education budgets.
For the average residential home in Milton, assessed at $600,000 by the Municipal Property Assessment Corporation, this increase translates to an estimated $43.60 per $100,000 of residential assessment. Consequently, the average overall household property tax bill for 2024 is projected to be approximately $4,670.81. Notably, Milton maintains one of the lowest overall property tax rates compared to neighbouring municipalities.
Budget Chair Sameera Ali, also a Regional Councillor for the Town of Milton, expressed the collective effort invested in crafting a budget that meets residents’ expectations while navigating financial challenges such as inflation. Ali emphasized, “This budget makes strategic investments in transit, fire services and community safety, traffic calming, road safety, quality facilities, effective services, and planned community growth.”
The approved budget underscores Milton’s commitment to responsible fiscal management, ensuring sustainable development, and enhancing the overall well-being of its residents.
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