A public meeting on the proposed 2025 Budget was held last night during the November 26th, 2024, Committee of the Whole meeting. Council is proposing a 3.9% tax rate increase to cover rising costs to provide services as well as rising infrastructure renewal costs. This represents an annual increase of $85.84, or $7.15 per month, based on a home assessed at $293,000 which is the median home value in Carleton Place for 2024.
In addition, the Town’s 2025 OPP policing contract is going up $622,270 to $3,022,800. This represents a 26% increase over our 2024 contract amount of $2,400,530 which will require a 4.1% tax levy to cover this additional amount. This would result in an additional annual increase of $90.25, or $7.52 per month to the increase noted above, based on a home assessed at $293,000 which is the median home value in Carleton Place for 2024.
Therefore, the overall tax increase of the 3.9% tax increase and 4.1% OPP increase will be an annual increase of $176.09, or $14.67 per month based on a home assessed at $293.000.
The Treasurer’s budget presentation is now available to view online. Comments/input on the proposed levy increase will be accepted by email at tmcconkey@carletonplace.ca, until 4:30 p.m. on Thursday, December 5th, 2024. Final budget approval will be considered at the December 10th, 2024, regular Council meeting.