The Town of Bracebridge is looking at increasing taxes as part of its Long-Term Capital Plan.
That’s according to a report presented by Paul Judson, Director of Finance, at the Sept. 1 general committee meeting, which projects a 3.5 per cent tax increase for 2027, followed by 4.5 per cent increases in subsequent years.
According to the report, the 3.5 per cent increase would result in an additional $811,000, while the 4.5 per cent increases would provide an additional million dollars annually.
Judson said the capital plan focuses on rehabilitation projects rather than new construction, as an analysis found that more than 90 per cent of the town’s infrastructure portfolio is in fair or better condition. Less than 10 per cent is in poor or worse condition, reducing the need for replacement or major rehabilitation projects.
The report states that, on average, the Town requires $12.8 million per year to keep pace with capital rehabilitation and replacement needs across its asset portfolio.
Based on the Town’s asset management plan and current property tax revenue of approximately $21.5 million, staff said closing the annual infrastructure funding gap over a 20-year period would require a dedicated annual tax increase of 1.4 per cent.
Staff said additional resources would also be needed for lifecycle management, risk management, levels of service and infrastructure maintenance.
Councillor Don Smith said he was concerned about the increase, adding that there is an expectation in the community that certain things will be done. He said the proposed increase represents a “fairly significant risk.”
“This is just on the capital side. It does not include the operating side,” said Smith. “If you take that and you take those numbers out over the 10 years, it works out to an excess of a 60 per cent tax increase.”
Judson said the numbers reflect the Town’s challenge of addressing its priorities while remaining within its affordability and financial constraints; adding those numbers could change once they are more refined.
“On the long-term capital plan, it’s really important to kind of look at it as two pieces. Arguably, the most important piece is that first year, 2027,” said Judson.
Judson said the report provides a forecast, and staff are still seeking direction to have certain projects considered as part of the development of the Mayor’s 2027 budget and business plan.
