The average Wellesley homeowner will pay an additional $21 this year on the township portion of their property taxes under the 2021 budget approved this week by council.
The budget calls for a 2.25 per cent tax hike and a 0.5 per cent special greening levy, which should bring in an additional $27,000 for green projects. That will see the township portion of the tax bill rise to about $1,113, based on an assessed value of $398,143
Overall, the township budget calls for total operating expenditures of $8,285,270, as well as $3,415,637 in capital spending. The latter includes just over $1 million for road works, $300,000 for bridges and culverts, and $105,000 for sidewalks.
The tax increase will see $5,322,838 raised through the levy, up 5.3 per cent from the $5,054,598 in last year’s budget. That revenue stream will be augmented by fairly solid assessment growth forecast to reach 3.06 per cent, bringing in an additional $154,671.
Of the $8.6 million in operating expenses, public works accounts for the largest single share at $3.2 million, followed by recreation ($1.71 million), administration ($1.66 million) and fire ($1.27 million).
The township expects to see a slight rise in the grants it receives from the province under the Ontario Municipal Partnership Fund, to $808,200 from the $772,300 it received last year. Other funds received under the Safe Restart Fund will be used to help cover the costs of dealing with the coronavirus pandemic, and can be applied to shortfalls such as the $182,000 in lost recreation revenue expected in 2021.