The City of Sarnia's draft budget for 2024 calls for an increase of just over eight per cent in municipal property taxes.
City administrators released highlights of the proposed budget Friday, saying the draft "aims to balance affordability for taxpayers with critical infrastructure investment needs, at a time when the city faces increasing external financial pressures."
The proposed operating budget amounts to $181.8 million and calls for an 8.18 per cent increase to the city portion of property tax bills.
Staff said they've already offset nearly 10 per cent in increases by utilizing $900,000 in surplus funds, transferring close to $4 million from reserves and deferring over $3 million in planned contributions to reserves.
Inflationary increases on fuel, capital investments like road resurfacing, and increased policing costs are referenced as budget challenges for 2024.
Prior to any cuts, the city's tax hike represents about a $76 increase for every $100,000 of residential assessment. Sarnia's draft capital budget outlines $51.5 million in investments, including; $3.75 million for road resurfacing, $2.5 million for shoreline protection and $5.2 million to improve city facilities and recreation spaces.
An aggressive plan for infrastructure renewal is also outlined. About $8.7 million is budgeted for combined sewer separation projects, to protect the water system against extreme weather events, and about $2.6 million to replace water mains.
Over $5 million is budgeted to replace, or upgrade, the Sarnia Transit fleet and an increase of just over three per cent in the transit levy area is proposed to help pay for it.
Sarnia's proposed 2024 budget can be viewed here.
A public input and grant session will take place on November 20.
Budget day at city hall is December 5.
