The City of Barrie is one step closer to finalizing its 2018 budget and its accompanying tax increase.
During Monday night’s general committee meeting, councillors debated what looks to be a 2.75 per cent property tax increase. That’s down from a 3.27 per cent increase, which was originally proposed.
The city expects the increase to cost the average home assessed at $334,000 around $114 annually. The total average tax bill will come in at $4,250.
To help lower the increase, councillors made amendments to reduce how much money the city would put into its capital reserve. This $625,000 reduction is expected to be offset by the Alectra Utilities dividend.
The capital reserve can be used by the city if they have to pay for unexpected expenses.
The city also wants to increase the parking free at the waterfront for non-Barrie residents. Currently visitors pay $15, but that will be increased to $20.
The budget breaks down to this:
- City services get 55 per cent
- City service partners like Barrie police, Barrie Public Library and the County of Simcoe will get 31 per cent
- Educational services will get 14 per cent
The budget also includes $135 million for infrastructure projects. This includes $60 million for the Harvie Road bridge over Highway 400 and $15 million to widen Mapleview Drive.
Water bills are also poised to go up $9 to $333. Wastewater bills are also expected to raise $14 to $468.
The budget is expected to be finalized next Monday.
