Council Highlights from December 14, 2020
At the December 14 Council Meeting, Newmarket Council approved the 2021 budget that will result in a 1.98 percent tax increase (Town portion). This is 1.01 percent lower than the originally proposed 2.99 percent increase, recognizing the added financial pressure the community faces as a result of COVID-19. The total approved 2021 Operating Budget is $137.0 million and the Capital Budget is $37.9 million, with a combined total of $174.9 million.
The Town of Newmarket continues to strive to keep the tax rate approximately 10 percent below the GTA average. Based on an average single-detached home with an assessed value of $700,000, a 465 square meter lot, using 200 cubic meters of water per year, residents will see an increase of $42.86 ($3.57 per month) on their tax bill for 2021. This year, the base budget will increase by only 0.18% with an additional 0.80% for a COVID-19 Contingency Fund and 1% for the Asset Replacement Fund. Learn more: newmarket.ca/2021budget
2021 Capital Budget highlights includes the construction of Newmarket's first outdoor skate park, a new Central York Fire Services fire station, a new fleet of fire trucks, completion of the Mulock Property Master Plan, trail and field lighting enhancements and fleet replacement, municipal infrastructure and road resurfacing, improvements for bridges and culvert, traffic safety initiatives, new park developments among other projects.
Council has approved to implement Off-Street Parking Program as an alternative option for residents to park off-street in municipal parking lots throughout the Town's seasonal winter parking restrictions with a permit from 5 p.m. to 7 a.m. All residents will be eligible to participate in the proposed off-street parking program. Residents will be required to apply for and obtain a temporary parking exemption permit through the Town's online parking portal. Learn more: newmarket.ca/parkingexemptions