The Township of Muskoka Lakes has approved its budget for 2020 and providing some tax relief for residents.
In a news release Wednesday, the Township announced that back on May 13, the council approved its 2020 Operating and Capital Budgets and forecast and extended the waiving of penalties for non-payment of 2020 interim taxes.
The decision regarding taxes removed any penalty of non-payment toward interim taxes until July 31.
Payments continue to be accepted and processed by the Township.
Property owners that have the means to make their payment are encouraged to do so, as property taxes fund the many municipal services that must continue to be provided.
As for the budget, the 2020 budget has a net levy of $12,285,251, representing a 2.14 percent tax levy increase over the prior year.
The Township says the estimated impact on the typical residential property valued at $500,000 is an annual increase in taxes of $4.34.
The budget also includes a reduction in operating costs and increases contributions to capital reserves to fund the rehabilitation and replacement of infrastructure.
Mayor Phil Harding says the goal is to steadily increase reserve contributions in the operating budget to reflect the expenditure needs in the capital budget and forecast.
“During unprecedented times, I am pleased that Council considered all options put forth by staff and achieved an extremely responsible budget that recognizes both the long-term infrastructure deficits across the Township while respecting the short-term economic implications of Covid-19 and its impact on the economy,” Harding said.
The Township of Muskoka Lakes funding requirement continues to be the smallest portion of the total property tax bill at 20 percent.
The District Municipality of Muskoka will retain 52 percent and the School Boards 28 percent – which are the larger components of the total amount levied.
Notable projects slated for 2020 include the rehabilitation of the Beaumaris Bridge, reconstruction of Moon River Road, purchase of a good used grader and sweeper, purchase of a fire pumper truck for Windermere, new fire master plan and new community engagement platform.