Renewal of streetscape and asphalt maintenance on Stevenson Crescent, along with allocation of reserve funds: A sneak peek into Renfrew's 2025 budget, prior to the council meeting on May 13.
Got the scoop on Renfrew's 2025 budget! 📅
With the final vote on the horizon next week, here's a lowdown on what's shaping up for Renfrew's residents in terms of property taxes. 💵
Revised Budget Proposal
At a recent meeting, council received a third revision of the 2025 budget, which illustrated a more lenient property tax increase—11.63%—compared to the initially proposed boost. This budget draft saw a cut of $358,708 since the first version, as per town treasurer Charlene Jackson.
The OPP Credit Option
The council was presented with an interesting dilemma concerning a $462,520 credit from the Ontario Provincial Police overbilling the town in 2023 and 2024. They had three options:
- Utilize the full credit to lower the tax levy increase to 7.54%, with an automatic increase of 5-6% in 2026.
- Half-use the credit, resulting in a tax levy increase of 9.59%.
- Allocate the entire credit to reserve funds and maintain the 11.63% tax levy hike.
Council decided to allocate $317,520 of the OPP credit to reserves and use $145,000 to decrease the tax levy to 10.35%. 💡
Capital Budget Details
The capital budget includes funding for various projects, such as asphalt rehabilitation on Stevenson Crescent, gymnastics anchors and installation, as well as a heritage register review/update.
- The third revision of Renfrew's 2025 budget, with a more lenient property tax increase of 11.63%, has been presented to the council.
- The proposed budget seen a cut of $358,708 since the first version, as per town treasurer Charlene Jackson.
- The council faces a dilemma concerning a $462,520 credit from the Ontario Provincial Police overbilling the town in 2023 and 2024.
- They have three options: use the full credit to lower the tax levy increase, half-use the credit, or allocate it to reserve funds while maintaining the current tax levy hike.
- Council decided to allocate $317,520 of the OPP credit to reserves and use $145,000 to decrease the tax levy to 10.35%.
- The capital budget for 2025 includes funding for projects like asphalt rehabilitation on Stevenson Crescent, gymnastics anchors and installation, and a heritage register review/update.
