Photo: Town of Milton
The Town of Milton’s Council has approved the 2023 Town Budget.
This was the first budget of the new Milton Council term. The approved budget represents an investment of $63 million in capital projects and $184 million through the operating budget to deliver programs and services. That includes investment in:
- Customer service
- Modernization of services
- Sustainability
- Asset management
- Quality community assets
The 2023 capital portion of the budget represents a $63 million investment in 132 projects, including new infrastructure to support the Town’s growth and expansion, as well as the rehabilitation and replacement of existing infrastructure.
The operating portion provides $184 million for the day-to-day operations at the Town that deliver important services to our community. It provides the funding to deliver services such as fire, snow clearing, maintenance of roads and parks, transit, Milton Public Library, stormwater pond maintenance, culture and recreation.
The Town is responsible for collecting property taxes for three agencies -Town of Milton, Halton Region, and the Province (school boards). A resident’s property tax bill is a combination of these three agencies. The Town of Milton’s services are 40% of the overall tax bill. This combination is referred to as the blended property tax rate and is what a taxpayer will see on their property tax bill and results in the household impact.
As a result of the 2023 approved budget, Milton’s portion of the property tax bill will increase by 7.99%, with an estimated overall blended rate of 4.42%, pending approval of Halton Region’s budget at their meeting on Wednesday, January 25th. Therefore, the average overall household property tax bill may increase in 2023 by $31.09 per $100,000 of residential assessment.
The average residential home in Milton assessed by the Municipal Property Assessment Corporation at $600,000 can expect to pay approximately $4,407.30 in property taxes for 2023.
Visit the Town’s website to view the 2023 budget highlights. To learn more about how the 2023 budget impacts residential taxes, visit the Town’s website after January 25th.
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