Photo courtesy of: Peterborough.ca
The City of Peterborough will continue its review of the Draft 2025 Budget during a General Committee meeting.
The meeting begins at 9 a.m. and is open to the public, with live streaming available at peterborough.ca/WatchCouncil.
Council deferred its consideration of the Draft 2025 Budget from its December 9th, 2024, meeting to allow time to explore options for reducing the proposed all-inclusive rate increase from 8% to 7%. The budget, as it currently stands, includes a $12.43 monthly increase for every $100,000 of property assessment, amounting to $149.16 annually. Council is set to finalize the budget at its meeting on February 3rd.
To achieve the targeted rate reduction, several recommendations will be reviewed, including cutting expenses in areas such as graffiti management, forestry, and transit cleaning supplies, as well as delaying the purchase of a municipal enforcement vehicle. Other proposed measures include transitioning stormwater funding from the tax base to a dedicated user fee by April 1st, and adjusting recreation and park fees.
The introduction of a Stormwater Management User Fee aims to improve transparency and fairness, allocating costs directly to service use. In 2025, this change will shift $3.72 million from property taxes to utility bills under a simplified interim rate structure. Consultation on the long-term structure of this fee will follow later in the year.
The Draft 2025 Budget outlines $411 million in operating expenses and $147.4 million for 174 capital projects, including infrastructure upgrades, police station renovations, and equipment updates at the Wastewater Treatment Plant. The budget process began in March 2024 with community consultation and included public meetings, surveys, and detailed presentations on municipal services and projects.
For more information, visit peterborough.ca/Budget.
