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Tillsonburg Town Council Approves 2023 Budget

Wednesday, 15 February 2023 06:07

By Marcie Culbert @marcieculbert

Tillsonburg Town Council has approved a $35.6-million budget and a tax rate increase of 2.82 percent.

TILLSONBURG - Tillsonburg Town Council has given the green light to a $35.6-million budget for 2023.

It was approved on Monday and Mayor Deb Gilvesy says the spending plan sets aside $7.2-million for capital projects. 

"Service excellence to the public, continuous improvement from an operational perspective, and responsible capital investment in infrastructure were all important considerations during the budget process.”

The capital budget includes improvements to the Tillsonburg Community Centre as well as the Annandale National Historic Site. It's also going to fund reconstruction projects for Young Street and Bayham Line, replace playground equipment, and cover storm and sanitary sewer upgrades.

Gilvesy says Council has also approved a tax rate increase of 2.82 percent. 

“Budget deliberations are always challenging, but especially this year given higher borrowing costs and inflation. As a Council, and a corporation, we strive to seek a balance between planning for the future and addressing immediate needs.”

The average resident with a home valued at $237,000 will spend $53.79 extra on the Town's portion of their property taxes this year.

You can find more details online here.

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