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Tillsonburg Passes 2024 Budget

Thursday, 15 February 2024 05:54

By Marcie Culbert X @marcieculbert

Tillsonburg Town Council has approved a $51.8 million budget for 2024, along with a tax rate increase of 4.91 percent.

TILLSONBURG - The average homeowner in Tillsonburg with a property valued at $237,000 will have to spend $96.21 extra on the town's portion of their property tax bill this year.

Town Council approved its budget for 2024 earlier this week, along with a tax rate increase of 4.91 percent. The budget originally called for a 6.7 percent increase, but Mayor Deb Gilvesy says the town listened to resident's concerns and was able to bring the rate down.

She says the 2024 budget totals $51.8 million and includes $23 million for capital projects.

"Many municipalities are passing higher than normal property tax rate increases in 2024 to address infrastructure needs. The increasing costs of supplies and labour, as well as rising interest rates, are definitely having an impact on municipalities."

Tillsonburg's budget for 2023 totaled $35.6 million, with $7.2 million set aside for capital projects.

The list of capital projects for 2024 includes a culvert replacement on Devonshire Ave and road reconstruction projects for Charlotte Ave and Clarence Street, as well as Townline Road. 

It also includes upgrades to the bathhouse at Lake Lisgar Water Park and aquatics rehabilitation at the Community Centre. Both projects should be completed this year.

You can read more about Tillsonburg's budget for 2024 online here.

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