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Town of Ajax 2018 Operating Budget

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Presentation on theme: "Town of Ajax 2018 Operating Budget"— Presentation transcript:

1 Town of Ajax 2018 Operating Budget
February 12, 2018 Canada 150 Mural Mosaic ajax.ca/budgets

2 Residential Property Tax Bill

3 2018 Operating Budget Services
The 2018 Operating Budget of $59.8 million provides for day-to-day services

4 Assessment Growth The 2018 assessment growth was slightly higher than anticipated The higher assessment growth helped to reach the 1.75% base tax rate increase and partially offset the Bill 148 minimum wage impacts

5 Slots Revenue and Lower Property Tax
The Slots revenue contributes just over $2.0 million a year towards the Town’s Operating Budget Annual Amount Operating $295,500 Debt Payments $480,900 Debt Avoidance $1,258,400 Total $2,034,800 The Slots provide an annual savings of $47 on the average 2018 residential property

6 Significant Budget Items
Eliminated debenture costs for the Quaker Meeting House The projected 2017 Operating Budget Surplus will be used to fund the debenture issuance Streetlight conversions to LED fixtures This program is projected to produce savings of $126,300 by reducing costs, for both hydro and maintenance Pat Bayly Square Multi-purpose urban space will open in Fall 2018 for special events and large gatherings, featuring a reflecting pool in the summer and ice rink in the winter

7 Significant Budget Items
Legislative Impact of Bill Fair Workplaces, Better Jobs Act In November 2017, Council approved the one time tax rate increase of 1.00% to fund the new legislation The 2018 budgeted impact of the minimum wage increase and related requirements is $703,500, representing a tax increase of 1.15% The impact beyond 1.00% has been offset through new user fees, fee increases, staff vacancies, and assessment growth

8 Tax Rate Increases

9 Impact on Average Residential Property
Based on average assessment of $424,100 Increase Town of Ajax – base budget $25.01 Town of Ajax – Provincial Legislation – Minimum Wage 14.29 Region of Durham 49.73 Province (Education) 0.00 Total $89.03 Percentage increase, individual and combined …

10 Town of Ajax 2018 Operating Budget
February 12, 2018 Canada 150 Mural Mosaic ajax.ca/budgets

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