Tay Valley Township Approves 2022 Budget

Tay Valley Township Approves 2022 Budget – Includes Funding for Infrastructure Renewal as well as Climate Change Considerations

At its meeting on December 14^th, 2021, Tay Valley Township Council gave final approval to its 2022 budget. The 2022 budget will see a 3.42% tax levy increase. This is comprised of:

• 2.95% ($177,509) for operational increases
• .38% ($23,169) for allocations to reserves for future needs and capital replacements, and
• .09% ($5,600) for debt adjustment on the Bolingbroke Bridge project.
• 3.42% ($206,278) TOTAL

The Township’s Strategic Plan, Vision for the Future includes the following goal: “Financial Sustainability” - strives to have stable tax rates and debt ratios and be able to fund our desired programs and infrastructure.  Operational increases include the addition of a Community Service Coordinator, the Township’s share of a new Deputy Fire Chief and decrease in revenues collected and the Township’s share of Provincial Offence revenues.

Climate Change Initiatives include the purchase of an electric/hybrid vehicle to replace the Building Official’s current vehicle, along with a charging station and the planting of trees at waste sites.

The total 2022 tax requirement of $6,229,326 is $206,278 or 3.42% more than was required in 2021.  This represents an approximate increase of $46.83 on a residential property assessed at $300,000.

Highlights of Tay Valley’s approximate $3.18 million-dollar infrastructure renewal and replacement program includes the following for 2022:

• Road & Bridge projects - $1,799,370
• Vehicle & Equipment replacement projects - $631,850
• Building & Property projects - $107,878
• Recreation projects - $312,475
• Environmental projects - $145,000
• Mandated & Committed projects - $182,800

For further information please visit https://www.tayvalleytwp.ca/BudgetandFinancialReports/.

For further information about the budget contact:
Richard Bennett, Acting Treasurer
Tay Valley Township
217 Harper Road, Perth, ON, K7H 3C6
613-267-5353 ext. 126
treasurer@tayvalleytwp.ca