Quinte West Council voted to approve the City’s 2024 budget at today’s Special Council – Budget meeting.
The approved 2024 budget of $80.6 million reflects an overall 6.7% total tax increase that prioritizes maintaining existing service levels and protecting the City’s long-term fiscal health.
The 2024 Quinte West budget includes:
- A $25 million investment to fund Capital projects including $12.7 million for road work, including $1.55 million for the reconstruction of a portion of Victoria Avenue.
- Contributing $700,000 to the City’s Housing Affordability reserve representing the City’s largest commitment to supporting affordable housing solutions to date.
- Increasing the City’s property tax rebate from $600 to $675 to support eligible residents who receive Ontario Disability Support Program (ODSP) funding or qualify for a Low-Income Senior Property Tax credit.
- Increasing the cost of bag tags from $3 to $3.25 per tag to generate approximately $150,000 in revenue, which will help offset the cost to operate the City’s waste management program.
- $30.3 million in funding to external agencies that deliver important community programs and services, including public health and health care services, conservation authorities, transit, and libraries.
- $1 million in combined increased funding to local Police, Fire and Emergency Services.
A copy of the approved 2024 budget book will be available online at quintewest.ca/budget.
Quote
“Council is pleased to approve the 2024 budget focusing on supporting City reserves for affordable housing solutions and fixing critical roads, water and wastewater infrastructure,” said Quinte West Mayor Jim Harrison. “Despite various challenges like decreased provincial funding and pressure from inflation, this budget will maintain current service levels and ensure Quinte West is positioned for long-term financial stability.”
Jim Harrison, Mayor of Quinte West
Quick Facts
Each year, the City budgets for expenditures in the following areas:
The capital budget is based on a ten-year plan that outlines how the City will spend money on long-term investments, such as renewing existing roadways, renovating City buildings and arenas, and buying equipment used to provide services. The approved 2024 budget allocates an additional $1 million (1.5% of the total tax levy) to the City’s Capital program.
The operating budget outlines the City’s annual expected revenue and expenditures, and funds the day-to-day costs of delivering services such as fire protection, maintenance of parks, economic development services, and the delivery of community events. The 2024 Operating budget is $80.6 million.
The water and wastewater budget outlines the annual expenses related to ensuring clean drinking water and the treatment of wastewater, as well as the maintenance and repair of wastewater treatment facilities and sewer systems. The 2024 water and wastewater budget is $10.3 million.
Funding to external agencies supports local organizations that deliver important community programs and services, including public health and health care services, conservation authorities, transit, and libraries. In 2024, the City will provide $30.3 million in funding to external agencies.