Budget and Finances

 2023 Approved Budgets

The Town of New Tecumseth adopted its 2023 Business Plan and Budget at its February 27th Council meeting.

The Approved 2023 Budget reflects a net general levy of $40.2M, which translates to a 1.29% general levy increase. In addition, the Town has implemented a Capital Levy to help support the renewal of aging infrastructure requiring an additional 2.0% levy increase. The combined levy increase is 3.29%, which represents a property tax increase of approximately $79 for the average home valued at $456,000.

 The Town’s portion of the average residential property tax bill is estimated at $2,489 or approximately 55% of the total property tax bill, with the balance redirected to Simcoe County and Education Boards. 

 The Town’s budget is a balanced blend of providing community services, sustaining aging infrastructure and progressively managing growth. This budget serves to address all the above.

Key Operating Highlights include:

  • Increased investment in asset replacement reserves
  • Increased cost of service delivery, market price increases
  • Reduction in administration and service areas costs

The Town budget includes $39.4M in capital consisting of 64 projects, funded from a variety of sources such as reserves $2M, development charges $13.5M, debentures $8.6M, grants $4.2M and tax $600K.

 Significant 2023 capital works include:

  • New Parks and Upgrades - $2M
  • Recreation Facility Upgrades - $1M
  • Investment in Roads and Bridge Reconstruction - $3.3M
  • Fire Large Apparatus Replacement - $1.7M
  • 2023 Road Improvement Program - $3.5M
  • Tottenham Conservation Area Upper Washroom Construction - $1.3M
  • Alliston Wastewater Treatment Plant Clarifiers Rehabilitation - $6.8M
  • Brendan Holly Wastewater Treatment Facility Biosolids Storage Expansion - $3.7M
  • Maple Lane Pumping Station Rehabilitation - $4.1M
  • Groundwater Well Optimization - $2.6M

 The Water and Wastewater budget approval results in an 8% increase to water and wastewater rates effective April 1, 2023. The impact of the proposed rate change for an average residential home using 200 cubic meters of water per year is approximately $76.

Summary content and specific budget details are available within the Town’s Approved 2023 Budget Document.


 2022 Long Range Financial Plan

The 2022 Long Range Financial Plan was presented as part of the Town of New Tecumseth  Finance Planning Working Session held on June 16, 2022. 

  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