The Municipality of Lakeshore has passed a spending plan with the lowest property tax increase in Windsor-Essex.
Councillors on Thursday approved the Municipality's 2024 budget with a 2.97 per cent property tax hike. The increase will result in an average increase of $54 per year on a property owner's tax bill.
"This was a budget process with bold, focused leadership, and I greatly appreciate my fellow Council members who worked hard on behalf of our residents," said Mayor Tracey Bailey. "This budget takes a balanced approach that makes critical investments to meet Lakeshore’s needs while limiting its impact on residents and taxpayers."
County and school board levies will add $122 per year.
During the deliberations, councillors reduced the originally-proposed increase of 6.34 per cent. A one-time transfer of $700,000 from the tax stabilization reserve to mitigate the impact of inflationary pressures was also approved.
The budget includes an increase in funding for road work. The $9.5-million set for road projects includes $6.7-million for road rehabilitation, up $4-million from the figure in the draft budget.
Other highlights include $9-million for water, wastewater, and stormwater projects.
The budget for capital projects is $26.2-million, with total expenditures at $60.7-million.
Councillors will formally approve the budget at a future meeting.
