A public meeting on the proposed 2025 Budget will be held on Tuesday, November 26th, 2024, during the Committee of the Whole meeting. Council is proposing a 4% tax rate increase to cover rising costs to provide services as well as rising infrastructure renewal costs. This represents an annual increase of $86.84, or $7.24 per month, based on a home assessed at $289,000 which is the median home value in Carleton Place for 2024.
In addition, the Town’s 2025 OPP policing contract is going up $622,272 to $3,022,802. This represents a 26% increase over our 2024 contract amount of $2,400,530 which will require a 4% tax levy to cover this additional amount. This would result in an additional annual increase of $86.84, or $7.24 per month to the increase noted above, based on a home assessed at $289,000 which is the median home value in Carleton Place for 2024.
Therefore, the overall tax increase of the 4% tax increase and 4% OPP increase will be an annual increase of $173.68, or $14.48 per month based on a home assessed at $289.000.
The Treasurer’s budget presentation will be available on the Town’s website after the public meeting at which point comments/input on the proposed levy increase will be accepted until 4:30 p.m. on Thursday, December 5th, 2024, and final budget approval is scheduled to occur during the December 10th, 2024, regular Council meeting.