Budget and Finances

2025 Business Plan & Budget

The Town of New Tecumseth adopted its 2025 Business Plan & Budget at its December 16th Council meeting.  

The approved 2025 Budget reflects a net general levy of $45.1M resulting in a 2.04% general levy increase for the Town’s base budget and accounts for inflation while maintaining existing service levels. The budget also includes a 2% capital levy increase, reinforcing the Town's priority of maintaining existing infrastructure. 

The blended tax increase for the Town, including the County of Simcoe and the School Boards is 3.23%. This represents a property tax increase of about $154 per household. 

“Through the budget and business planning process, Council and staff worked diligently to find efficiencies wherever possible to ensure the greatest value for our residents. We were able to work together, manage challenges and find efficiencies to get to the lowest tax rate possible while continuing to provide the best Town services today and plan for our growing community in the years to come,” said New Tecumseth Mayor Richard Norcross.  

The service partners’ budgets have contributed to a 0.74% rise in the Town’s tax levy, with 0.39% of this increase attributed to the OPP budget. Assessment growth contributed a reduction of (0.42%) to the overall levy. 

“We are grateful to the Province for recognizing and helping to lessen the impact of the rapidly escalating cost of policing across Ontario, including New Tecumseth,” Norcross said.  

The Town’s 2025 capital budget includes 65 new and continuing capital projects, with a total 2025 budget request of $59.2M. Capital projects are not directly funded by property tax and utility rates; rather they are funded by a combination of grants, reserves/reserve funds and debentures. 

Key operating highlights include:

•             Traffic calming initiatives
•             Automated Speed Enforcement Initiative
•             Free swims for residents
•             Addition of necessary resources in Corporate Facilities
•             Establishment of a Diversity Committee

 Significant 2025 capital works include:

•             Beeton Community Centre Replacement $14.1M
•             RWWTP - Biosolid Storage Expansion Top-up $14.5M
•             AWWTP - Clarifiers Rehabilitation $6.4M
•             Road Depot No. 3 Garage Detailed Design and Construction $3.0M
•             Dillane Street East and Keogh Street Road Reconstruction $2.9M
•             New Tecumseth Recreation Centre-Capital Maintenance $2.4M
•             Fire Apparatus and Equipment Acquisitions $1.2M
•             Pedestrian Crossovers at Various Locations $863K
•             Gravel Roads Upgrade Program $800K
•             Sir Frederick Banting Homestead- Barn Foundation $700K

   

 2024 Long Range Financial Plan

The 2024 Long Range Financial Plan was presented as part of the Town of New Tecumseth  Finance Planning Working Session held on June 24, 2024. 

  Past Budgets

Financial statements

Our yearly financial statements are available as well, which have financial information for the Town, Library and Business Improvement Associations.

Cheque Summary Report