The District of Muskoka’s 2022 budget has been approved, with a tax rate increase of 2.27 per cent.
That means a house valued at $300,000 would pay $19.86 more than last year in taxes. Julie Stevens, District CAO, had predicted a potential 4.26 per cent tax rate increase last year.
The District’s Committee of the Whole unanimously approved the budget Tuesday afternoon.
The operating budget, which includes expenses such as maintenance and service costs, is set at $140,296,670. The capital budget is $29,741,400, which covers purchasing new assets and replacing the old.
The net levy is set at $84,121,432, up 3.8 per cent from last year, with revenue from district services expected to bring in $56,175,238.
According to Suzanne Olimer, Commissioner of Finance and Corporate Services, the budget is down $202,600 from the initial draft, largely thanks to delays in hauled sewage projects, and the transfer of Huntsville’s Fairvern Nursing Home to the district. With Fairvern set to be transferred on June 30, $3,379,896 has been earmarked for its operation.
Olimer adds that Muskoka is projected to end the year with a surplus of $16-million.
The full 2022 budget for the District of Muskoka can be found here.