Budget and Finances

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The Town of New Tecumseth provides services and programs to our community based on the annual Town budget.

Draft 2021 Budget

The Town of New Tecumseth has launched the Draft 2021 Operating and Capital budgets, which will be presented to Committee on November 9th, 2020.  Members of Council will discuss and recommend changes throughout the process. Scheduled dates planned for this year’s process are as follows:

 

November 5, 2020                       - Draft Budget Release

November 9, 2020 @ 9AM     - Committee of the Whole Budget Working Session

                                                                         • Corporate Overview

                                                                         • Department Summaries

November 10, 2020 @ 7PM   - Evening Public Input Budget Session (Virtual)

                                                                         • Public Input Presentation

November 17, 2020 @ 9AM   - Committee of the Whole Budget Working Session

November 30, 2020 @ 7PM   - Committee of the Whole – Regular (Proposed Budget Recommendation)

December 14, 2020 @ 7PM    - Council Budget - Regular Session (Budget Approval)

The Draft 2021 Budget has a net operating and capital levy of $38.4M which results in a 1.95% increase. This translates to an increase of $44 per average household for the Town portion of the property tax bill and excludes any property tax impact associated with Simcoe County and the Education School Boards.

In addition to the above, the Town has instituted a separate annual Capital Levy dedicated to asset replacement. This funding equates to an additional annual 0.5% net levy increase, amounting to approximately $189,156 for 2021. This increase translates to approximately $11 per year or $0.92 per month for the average home.

The combined levy increase is 2.45%, which represents a property tax increase of $56 for the average home valued at $452,695.

The Draft Water and Wastewater budget results in a 4% increase in water and wastewater rates effective April 1, 2021. The impact of the rate change for an average residential home using 200 cubic meters of water is $36. A recent survey of municipalities has shown the Town’s combined Water and Wastewater rates are one of the lowest in Simcoe County and comparable GTA municipalities.

The Draft 2021, Town, Water and Wastewater Budget released November 5, 2020, includes overviews and highlights of the 2021 budget such as, where your residential property taxes go, the impact on the average household, budget at a glance, department summaries and much more.

The Draft 2021 Budget incorporates Business Improvement Area Levies, supporting the following BIA budgets:

  

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 Reports