Springwater Council Approves 2024 Budget

Township of Springwater / December 6, 2023 – Springwater Council officially adopted the Township’s 2024 Budget & Business Plan at a meeting held on December 6.

The Township’s 2024 Budget was approved with a 1.22% net tax increase over 2023 rates. When combined with the County of Simcoe’s approved tax increase of 3.7% and the education rate which is assumed to remain neutral, residents can expect to see a 1.83% blended tax increase on their 2024 property tax bill.

For an average home in Springwater assessed at $497,000, the approved blended rate amounts to a $79.34 increase over 2023 levels, or $6.61 per month.

For every tax dollar spent:

• $0.49 is retained by the Township of Springwater
• $0.33 is retained by the County of Simcoe; and
• $0.18 goes towards Education.

The budget includes gross expenditures of $70.9 million, comprised of $24.9 million in tax supported operating expenses, $20.9 million in carry forward capital projects and $19.3 million in new capital expenses, $3.2 million for water operations and $2.6 million for wastewater operations.

The 2024 Capital Budget includes $9.9 million in funding for Fire Station 2 construction and furnishings; $8.5 million for the construction of Craig Road; and $4.4 million in wastewater treatment plant upgrades. Additionally, residents can expect to see road, traffic and infrastructure improvements throughout the Township and will receive the same or improved levels of service with respect to fire and emergency services, winter road maintenance, libraries, planning, building services, recreation and by-law enforcement.

Since 2016, the operating budget has included 1% to support capital infrastructure and reduce the infrastructure gap identified in the Township’s 2022 Asset Management Plan. These funds will be dedicated to the future replacement of roads, bridges, fleet, facilities and parks.

To learn more about Springwater’s Budget, please visit www.springwater.ca/Budget