Gravenhurst draft budget comes in at 2.3%
The Town of Gravenhurst’s draft 2024 would result in a tax rate increase of 2.3 per cent. The draft operating budget for the town is $30.9-million and covers expenses related to service delivery to the community. These costs occur each year and include staff wages, insurance, and utilities, as well as other things such as maintenance costs.
The town says inflationary costs have influenced the draft operating budget, but staff have kept the budget within parameters established by council.
The draft capital budget is $9.9-million. The capital budget supports investments the town plans to make in infrastructure such as roads, parks, and facilities. Inflationary costs have hit the capital budget the hardest.
The draft capital budget, as well as the multi-year plan, reflect a mix of maintenance projects, replacement projects, and new initiatives.
For property owners, the draft budget, if approved, means an increase of $13.03 per $100,000 of assessment on the town share of the Gravenhurst property tax bill.