Earlier today, the General Issues Committee approved the preliminary 2018 Tax Operating Budget. If passed by Council, it would mean a 1.9% residential property tax increase (municipal and educational assessment), translating to an increase of $75 for the average household assessed at $337,100.
“Hamilton has achieved the lowest property tax increase in the GTHA. At the same time, we have been able to preserve and expand services such public transit, make repairs to public housing, and do emergency repairs to potholes in our roads caused by a tough winter. This is a budget we can all be proud of.” – Mayor Fred Eisenberger
GIC APPROVED BUDGET / QUICK FACTS: •The over-all tax increase for a residential property will be 1.9 per cent (including the education portion of the tax bill, the lowest in the GTHA) •A house assessed at $337,100 will see a tax increase of $75 •18 replacement HSR buses •Nine additional police officers •10 additional paramedics and one additional ambulance •41,000 additional DARTS trips •$1.1 million to improve snow-clearing •$3.4 million in capital financing of city’s share of bus maintenance facility and additional buses (0.4% tax impact) •New toboggan hills •Continuing to invest in our 10-year transit strategy •$750,000 in energy savings thanks to converting 10,000 high pressure sodium street lights to energy efficient LED lights •Special investment of $19.4 million to address road deficiencies caused by the increased freeze-thaw cycle caused by climate change, including $5.9 million for major arterial roads and $13.5 million to be shared by all 15 wards for local neighbourhood roads
For more information on the 2018 Budget, visit www.hamilton.ca/Budget2018.
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