Brampton's Property Taxes Set to Rise Next Year
Brampton’s newly approved budget has revealed that residents will indeed see an uptick in taxes come 2018. Here’s how much more you can expect to pay next year.
This Wednesday, December 6, Brampton City Council approved a budget that hikes overall property taxes by 2.7 per cent in 2018.
That being said, the tax increases come from the City, the Region of Peel, and the Province, or school boards.
“Brampton is investing for long-term impact,” said Mayor Linda Jeffrey in a recent statement. “This budget underlines that City Council is committed to enhancing services that matter to our citizens, such as transit, fire safety and recreation, while also laying the foundation for key strategic initiatives including a new university and enhancing regional transit connections. This budget focuses on improving quality of living and securing a stronger future for our youth.”
The 2.7 per cent hike translates to an annual increase of about $126 for the average residential home, assessed at $471,000 according to the City.
In comparison, this uptick isn’t much of a surprise. In the 2017 budget, taxes increased by 2.3 per cent, and residents paid about $107 in property taxes for an average residential home assessed at $443,000. So, taxes are gradually increasing as developments in Brampton are increasing and the cost of living here increases.
Here’s a closer look at some of the interesting investments from the budget:
- Eight new fire trucks over three years
- A full centralized fire campus including a fire station, a safety facility, an emergency operations centre, and a brand new headquarters
- Thirty-one new conventional Brampton Transit buses and 34 new Zum buses over three years
- A total of $150 million towards the Ryerson-Sheridan university that’s taking shape in Brampton, including a joint-use centre with a new library
- Revitalizing recreational facilities in Bramalea
- Increase STEM (engineering and robotics) recreational programming
The Etobicoke Creek Riverwalk is also still in the works, as well as sanitary and watermain improvements in and around downtown Brampton as part of the streetscaping project.
What’s more — according to the City, the “final instalment of the Hospital Levy will be reflected in the 2018 property tax bill. Due to investment earnings on previous amounts collected, taxpayers will see a lesser amount than originally planned.”
The recommended operating budget for the City for 2018 is $678 million, up from last year’s approved approximately $631 million by about $47 million.
For more details on Brampton’s budget for 2018, click here.