City council approves 2018 operating and capital budgets - City council approves 2018 operating and capital budgets
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null City council approves 2018 operating and capital budgets
December 20, 2017 -
The City of Kingston's 2018 budgets have been officially approved. Last night, city council passed the budget bylaws for a 2018 tax-supported operating budget of $378 million, a capital budget of $58 million and utility-related operating budgets of $95 million.
The municipal operating budget incorporates a 2.5 per cent tax rate increase – one per cent of which is dedicated to capital infrastructure. The operating budget determines the property- taxation revenue the City requires, which is then used to set final tax rates.
This budget supports the priorities outlined in our 2015 to 2018 strategic plan while holding to the targeted 2.5 per cent tax rate increase through a variety of revenue generation and cost-control measures.
For a homeowner with a house that has an average market value assessment of approximately $300,000, a 2.5 per cent tax increase amounts to approximately $85 a year or $7.08 a month.
The City has posted budget details at www.CityofKingston.ca/Budget. Go there to find out more about municipal budgets and other financial information.
- The $378 million operating budget pays for all day-to-day operations of the City of Kingston in providing programs and services. Examples of operating costs include salaries and benefits, insurance, supplies, fuel and utilities.
- The $58 million capital budget funds the rehabilitation and replacement of existing capital assets including transit buses, parks and facilities, as well as investment in new capital assets.
- The $95 million utility-related operating budget pays for the wastewater, water and gas operations of Utilities Kingston (wholly-owned by the City).
From housing and social services, to roads and sidewalks, to recreational and cultural activities, your property taxes support a wide-range of programs, facilities and services that support and add to your quality-of-life.
To learn more about the City's budget, go to www.CityofKingston.ca/Budget.
See Kingston's Strategic Plan 2015-2018 at: www.CityofKingston.ca/Apps/CouncilPriorities/
About the City of Kingston
Kingston's vision of being a smart, livable 21st century city is fast becoming reality. History and innovation thrive in our dynamic city located along the beautiful shores of Lake Ontario, an easy drive from Toronto, Ottawa and Montreal, in the heart of eastern Ontario. With a stable and diversified economy that includes global corporations, innovative startups and all levels of government, Kingston's high quality of life offers access to world-class education and research institutions, advanced healthcare facilities, affordable living and vibrant entertainment and tourism activities.
Media contact: For more information call the communications and customer experience department at 613-546-4291, ext. 2300.