Peterborough City Council has approved the city’s 2025 budget, finalizing a 6.72% all-inclusive property tax increase, equating to $10.44 per month per $100,000 of assessed value for a typical residential property.
The budget, which underwent months of deliberations, initially proposed a 7.8% tax increase before Council made cuts and funding adjustments to lower the rate. Council asked Peterborough County/City Paramedics and Peterborough Police Services Board to reduce their budget requests, with paramedics settling at a 7.2% increase and police at 7.8% after an initial 8.8% request.
Spending reductions and reallocated funds led to several key changes, including the restoration of $298,153 for community grants and a $500,000 interest-free loan for Showplace Performance Centre’s roof replacement. Council also allocated $904,000 from the Social Services Reserve for housing and homelessness initiatives, allowing the Trinity Community Centre overnight drop-in to operate year-round and expanding Brock Mission’s shelter capacity to 40 beds.
Cost-saving measures included eliminating lifeguard services at Roger’s Cove, reducing preventative maintenance at municipal buildings, cutting graffiti removal funding, and ending winter maintenance for skating on the Trent-Severn Waterway south of the Lift Lock. Additionally, the Downtown Business Improvement Area saw its annual $150,000 funding reinstated, while the city opted to handle streetscape maintenance directly rather than contracting the service.
A major shift in the budget is the transition of stormwater management funding from property taxes to a dedicated user fee, effective April 1st. The fee, set at $2.73 per month per $100,000 of residential property assessment, will be added to utility bills, with Council citing increased transparency and fairness in funding the service.
In a move that will impact residents and visitors alike, Council also approved an increase to the parking fee at the Memorial Centre. The rate will rise from $5.25 to $7, effective September 1st, with a report to Council expected before the fee takes effect.
The budget allocates $411 million in operating expenses and $147.4 million for capital projects, including police station renovations, upgrades at the Wastewater Treatment Plant, and major roadwork on Brealey Drive.
More details are available at peterborough.ca/budget.
