Newmarket’s Council approves the 2021 Budget
At the December 14 Council Meeting, Newmarket Council approved the 2021 budget that will result in a 1.98 per cent tax increase (Town portion). This is 1.01 per cent lower than the originally proposed 2.99 per cent increase, recognizing the added financial pressure the community faces as a result of COVID-19.
The total approved 2021 Operating Budget is $137.0 million and the Capital Budget is $37.9 million, with a combined total of $174.9 million.
"It has been an extremely challenging year for Newmarket residents and businesses and during these unprecedented times. We have strived to find the balance between managing the financial impacts of COVID-19, while continuing to plan for the future of our community. This year, the base budget will increase by only 0.18% with an additional 0.80% for a COVID-19 Contingency Fund and 1% for the Asset Replacement Fund." says Mayor John Taylor. "A special thank you to the community for your engagement in the budget process. We will continue to work together to ensure that Newmarket remains one of the best places in Canada to live and raise a family."
The Town of Newmarket continues to strive to keep the tax rate approximately 10 per cent below the GTA average. Based on an average single-detached home with an assessment value of $700,000, a 465 square metre lot, using 200 cubic metres of water per year, residents will see an increase of $42.86 ($3.57 per month) on their tax bill for 2021. There will be a $49.44 ($4.12 per month) increase on the water and wastewater bill and an increase of $4.21 (35 cents per month) for the stormwater charge.
The Town engaged residents in the 2021 budget process through an online survey that asked residents to rank the budget priorities that are most important to them. Results from the survey showed that residents wanted the Town to continue to maintain all its service levels, while providing more support for local businesses during the pandemic. As a result of this feedback, Council increased their support by allocating $100,000 to help local businesses – $50,000 more than what was originally proposed.
Newmarket Council also created a contingency fund as recommended in the Town's Fiscal Strategy and through strong support from residents that participated in the budget survey. With the COVID-19 landscape changing daily, it is important that the Town is prepared for emergencies like the pandemic to ensure all service levels can be maintained. Ensuring all services levels being maintained was the number one priority for the majority of residents that participated in 2021 Budget Survey.
Highlights from the 2021 Budget include:
- Construction of Newmarket's first outdoor skate park
- A new Central York Fire Services fire station and a new fleet of fire trucks
- Completion of the Mulock Property Master Plan
- Trail and field lighting enhancements and fleet replacement
- Municipal infrastructure and road resurfacing
- Improvements for bridges and culverts
- Traffic safety initiatives
- New park developments
Throughout the budget process, the Town was able to realize $800,000 in savings and an additional $200,000 savings from the Administrative and Service Delivery Review (Rev it Up) for a total savings of $1 million.
For more information on the 2021 budget, please visit newmarket.ca/2021budget