Huron-Kinloss approves 2024 budget
March 19, 2024
Huron-Kinloss council has given final approval to its 2024 budget.
The bylaw was passed at the council meeting Monday night (March 18), as presented by treasurer Jodi MacArthur.
This year’s budget contains $15.9-million in operating expenditures and $9.7-million in capital expenditures. After revenues and transfers from reserves are applied, the township must levy $10,803,422; an increase of $697,284 or 6.9 per cent over the 2023 levy.
In order to raise these funds, the residential tax rate will be set at 0.00723628; a 4.6-per-cent increase over the 2023 tax rate.
The province-wide reassessment, scheduled to be implemented in 2021, is still on hold. Therefore, property owners can expect their property assessment for the 2024 taxation year to be frozen at the 2020 assessment unless changes to their property have been made.
According to the Municipal Property Assessment Corporation (MPAC), the average value of a residential single family home in the Township of Huron-Kinloss is $243,115.
The increase to the municipal portion of the tax bill for 2024 is $77.37 for the average* residential single family home.
Combining the municipal, county and education taxes, the average* home paid a total of $3,203.14 in property tax for 2023. For 2024, that amount goes up by $146.82 to $3,349.96; an overall increase of 4.6 per cent.
* Based on assessment data from MPAC, your assessment may be more or less than the average.
The 2024 digital budget book can be viewed using the following link: Questica OpenBook. The budget book is also available for download in PDF format.
Visit the township’s Budget and Finance web page to learn more about the budgeting process.
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