Average homeowner will pay an extra $25 on city’s portion of property tax bill
By Heidi Riedner – Markham Economist & Sun
Markham council approved the city’s 2022 budget of $533.7 million on Dec. 14, including a 1.95 per cent property tax rate increase.
That will mean an increase of approximately $25 in property taxes for the average residential household with an assessed value of $846,500 in Markham.
Residents can expect to pay an average $138 extra when the region’s tax increase and water and wastewater hikes are factored in.
The city’s tax rate increase includes 1.45 per cent for day-to-day operating costs and continues a 0.5 per cent infrastructure investment to ensure there are sufficient funds in life cycle reserves to repair and replace assets for the next 25 years.
“We are proud of our track record of responsible fiscal management and for maintaining the lowest average tax rate increase in the GTA since 2006,” said Mayor Frank Scarpitti.
“I challenged city staff to keep the tax rate low by leveraging efficiencies through the use of technology, realigning services to enhance value in the city’s operations, and modernizing our services, and they have delivered.”
Scarpitti said funds from the federal and provincial governments have been a critical support as the city continues to weather the pandemic and further assistance will be essential to the municipality’s recovery effort.
Budget chief and councillor Amanda Yeung Collucci said the city’s modest increase is well below the current rate of inflation and will help reopen the economy as we recover from the pandemic.
“Council and senior staff knew it was important to deliver the lowest possible property tax rate increase to continue to support the community while delivering value so residents can continue to access the excellent services and infrastructure that our community has come to expect, and to rest assured that we are prepared for the future.”
Major 2022 investments in the budget include:
- $16.9 million for asphalt resurfacing, pavement preservation and road construction, as well as repairs to curbs, sidewalks and catch basins
- $13.9 million to improve storm drainage capacity and to limit flooding risks and $12.4 million for water and wastewater infrastructure monitoring, replacements and upgrades
- $11.8 million to extend trails and add four new parks
- $4.2 million to develop greenhouse gas (GHG) reduction plans and retrofit solutions for several community centres and new electric vehicle (EV) chargers to support Markham’s Corporate Energy Management Plan, Municipal Energy Plan, and Greenprint Sustainability Plan to transition to net-zero energy emissions (NZEE) by 2050 and reduce the city’s carbon footprint
- $2.8 million to expand Markham Public Library’s collections to better support Markham’s diverse community and membership interests
- $2 million for renovations and repairs to 10 city facilities and community centres
- $1.7 million to tackle erosion, protection of fish habitats, to monitor and improve pond water quality, and to conduct an inventory and study of natural heritage systems and other natural areas
- $1.8 million to develop a comprehensive road safety plan, build new pedestrian crossings and traffic signals, and install new multi-use path crossings
For more detailed information, visit markham.ca/budget.
Source: Markham Economist & Sun
