Peterborough residents will have one last chance to provide feedback on the City of Peterborough’s draft 2023 budget at a public meeting on Monday (January 9).
City council’s finance committee will hear delegations beginning at 6 p.m. on Monday, in advance of a series on finance committee meetings from January 16 to 19 to review the draft budget.
The city’s draft budget proposes a four per cent hike to the all-inclusive property tax rate, which would add $67.61 per year for each $100,000 of residential assessment. For example, a home assessed at $600,000 would see an additional $406 annually in property tax. This compares to a 2.87 per cent property tax increase approved in the 2022 budget.
The draft 2023 budget includes $131.2 million in capital expenditures including road work, a household organic waste composting facility and collection equipment, flood reduction efforts, facility maintenance, funding for the planned replacement of a fire station, sanitary sewer repairs, construction of the new twin-pad arena at Morrow Park, and police capital projects.
The budget also includes $326.6 million in operating expenditures for programs and services including waste management, road maintenance, wastewater sewers and treatment, social assistance, affordable housing, fire services, policing, and recreation, arts and heritage.
Details about the draft 2023 budget are available on the City of Peterborough’s website at peterborough.ca/budget.
Residents interested in registering as a delegation for the January 9th meeting can do so online at peterborough.ca/delegation or by calling the city clerk’s office at 705-742-7777 ext. 1820.
Delegates must be registered by 11 a.m. on January 9th to speak at the public meeting, which will also be livestreamed at peterborough.ca/WatchCouncil.
Council approved guidelines for creating the draft 2023 budget at its July 25th meeting following a series of community consultation meetings, a survey, a public budget meeting, and a council meeting where residents presented to council on the budget guidelines. A document summarizing the survey submissions is available at connectptbo.ca/2023Budget.
City council received a presentation on the draft budget at its December 5th meeting, and will consider approving the budget at its January 30th meeting.