Peterborough City Council has endorsed a draft of its 2025 budget, which includes a 6.72% overall tax rate increase. This translates to an additional $10.44 per month for the typical residential property with a $100,000 assessment. The final budget will be considered for approval on February 3rd.
In an effort to reduce the tax burden, council cut spending in several areas and sought reduced funding requests from key services. Peterborough Paramedics lowered their funding ask by 7.2% to $7.3 million, and the Peterborough Police Services Board trimmed its request to $37.8 million, an increase of 7.8% from 2024.
Notable changes to the draft budget include restoring $298,000 for community grants, adding a $500,000 interest-free loan for roof replacement at Showplace Performance Centre, and increasing transit fares to raise $125,000 in revenue. Additionally, the budget includes funding for housing initiatives, including $250,000 for a new Brock Mission Housing Project and $904,000 to expand homelessness services.
Several service changes were also approved, including the end of lifeguard services at Roger’s Cove, saving $39,995, although lifeguard services will continue at Beavermead Park. The maintenance of the Trent-Severn Waterway canal south of the Lift Lock for winter skating will also be ended, saving $100,000. The Downtown Business Improvement Area will see a $150,000 reinstatement of funding, and a $132,500 expense for contracted streetscape services will be removed as the City will take on the service directly in 2025.
The draft also proposes a new stormwater management fee, set to replace property tax funding for this service starting April 1st. This transition aims to create a dedicated funding stream and improve fairness by linking costs directly to stormwater contribution.
The 2025 budget totals $411 million in operating expenses, with $147.4 million allocated for 174 capital projects, including major infrastructure and facility upgrades. Officials say public consultations and council deliberations have shaped the budget, which emphasizes ongoing investments in municipal services, including water, waste management, and affordable housing.
You can view all the recommended changes to the 2025 Draft Budget on the City of Peterorough website.
(Written by: Scott Arnold)
