On Monday Oct 28th during a Special Council meeting, Mayor Frank Scarpitti presented and tabled the $674.7 million Markham Milestone 2025 Budget.
How is this broken down?
A $296.2 million operating budget, which is primarily funded through property tax and supports general day to day operations and services. A capital budget of $178.9 million; a waterworks budget of $154.2 million; a planning & urban design budget of $17. million; an engineering budget of $12.6 million and a building budget of $15.8 million. Highlights include investments in programming, services, facility maintenance and necessary infrastructure enhancements. To highlight a few specific important investments: $81.7m in flood control, stormwater management construction, ponds and culverts; $40.3m in road repairs, rehabilitation and traffic management improvements; $12.1m for interior and exterior improvements and repairs are our facilities; $10.3m for park and trail construction and maintenance.
What does this mean for us?
Next year’s property tax rate increase for the City of Markham portion will be 3.88% or approx. $53.54 for the average home. Our property tax bill is divided into 3- 24% retained by the City of Markham, 24% is directed to Education (Province) and 52% is directed to York Region.
Come out and share your thoughts
On Monday November 4th 7pm, the City will host a public consultation meeting in person as well as livestreamed. I encourage everyone to come out, ask questions, and share any concerns you may have. If you cannot make the public consultation, please share your feedback on the 2025 budget, Every Voice Matters.
This year’s budget acknowledges the financial challenges we are all facing while ensuring we continue to deliver excellent quality services that you have come to expect both now, and into the future.
If you’d like to thoughts with me directly, please let me know by using the link below.