Krantz and Challinor Vote Not to Endorse the 2024 Budget

Milton Mayor Gord Krantz and Town of Milton Ward 2 Local Councillor John Challinor II were the lone voices of dissent with respect to the Town’s 2024 Budget, which will result in local property taxpayers paying 5.93% more for local municipal services this year.

A typical detached home in Milton, which had a market value of $1,249,388 as of January 1, 2024, according to the Toronto Regional Real Estate Board, will pay $5,274 in property taxes, a $295 increase over 2023.

Similarly, a typical townhouse, which had a market value of $867,577 as of January 1, 2024, according to TRREB, will pay $3,663 in property taxes, a $205 increase over 2023.

Finally, a typical condominium, which had a market value of $586,564 as of January 1, 2024, according to TRREB, will pay $2,476 in property taxes, a $139 increase over 2023.

While Mr. Challinor was supportive of most of the measures advocated by Town staff in the draft budget brought before Council for approval in early December, he felt that a 5 percent tax increase was more appropriate and, further, it could be achieved by an $825,000 to $1.7 million reduction in discretionary spending found in the $36 million purchased goods and services line.

“Canada is in recession, interest rates are high, food inflation is continuing unabated and an increasing number of Miltonians are defaulting on their mortgages or not paying their property taxes — or both, “ he explained. “And, the next two years are going to be particularly difficult for those 50 percent of Miltonians whose mortgages are coming due for renewal. The Town of Milton’s 2024 Budget needs to reflect that reality and Milton Council needs to acknowledge the challenges faced by Milton property owners by taking thoughtful, constructive and fiscally responsible steps to control spending.”

 Mr. Challinor further suggested that future years will be uncertain, especially in national and global economic terms as well as in terms of meaningful financial participation by the senior levels of government in helping the municipality to fund programs and services or partially underwrite its infrastructure requirements.

To help to relieve the annual operating budget pressure on property taxpayers, Mr. Challinor is recommending the establishment of two reserve funds in early 2024: the first to generate $1 million annually to build the Town’s infrastructure reserve, thus completely relieving the municipality’s operating budget and property taxpayers of that obligation; and a second reserve to generate $1 million annually to offset significant operating budget increases, thus, once again, providing some fiscal relief for property taxpayers while backstopping the annual operating budget.

The fiscal relief afforded by both reserves annually would equate to a 2.5 percent reduction in the impact of the current operating budget on local property taxpayers.  CR