Peterborough County Council Approves 2023 Budget

The Peterborough County Council has approved the 2023 Budget at Wednesday’s meeting.

photo courtesy of peterborough county council.

The total increase is 4.93 per cent which includes a dedicated infrastructure levy of 2.5 per cent.

“Staff have brought forward an extremely fiscally responsible budget again this year. There are so many outside influences, that are beyond our control and yet together with our Finance Committee, we are bridging the infrastructure gap and fulfilling our mandate to our residents,” said Warden Bonnie Clark.

For 2023, the tax levy increase of 4.93 per cent approximates an increase of $19 per each $100,000 of residential assessment and equates to an approximate 3.9 per cent tax rate increase.

photo courtesy of peterborough county council.

Approximately 51 per cent of the total tax levy increase is dedicated to capital infrastructure, with the remaining 49 per cent supporting County operations and the External/Shared Services.

photo courtesy of peterborough county council.

Each 1 per cent levy increase is equal to approximately $507,000 of additional revenue.

“Our Finance Committee did not lose any momentum even though we had a number of new Councillors on the committee, they grasped the technology and tools quickly. We met our objectives using our system we implemented last year, and things moved very smoothly,” said finance committee chair Councillor Matthew Graham.

Engage with us on social media on Twitter, Instagram, Facebook and Tiktok. Write to us at tips@ptbocanada.com. Sign up for PTBOBuzz newsletter here.