Draft 2020 Budget released for public review

The City of Peterborough’s draft 2020 Budget was released for public review on Monday, December 9, 2019 with City Council scheduled to hold its budget deliberations from January 13 to 16, 2020.

The budget is expected to go to Council for approval on January 27, 2020.

The draft 2020 Budget outlines investments in infrastructure and services to the community, limiting the property tax increase for operating and support for the traditional capital program to 1.75%. When the sanitary and storm sewer charges as well as education taxes are included, the overall property tax increase for a typical single-detached home would be 2.34%.

A 2.34% property tax increase equates to $7.85 a month or $94.19 a year for a home assessed at $260,000 in 2020.

Before putting together the draft 2020 Budget, Council led a series of five Budget Roadshow drop-in meetings between April and June 2019 and the City offered a survey on community priorities that generated 996 responses. Comments from the community on budget priorities, expected service levels, and legislated responsibilities were considered as the City prepared the draft 2020 Budget.

Council will hear from public delegations on the draft 2020 Budget at its Finance Committee meeting on January 13, 2020 at 5:00 pm. The public will also have the opportunity to address Council at the regular Council meeting on January 27, 2020 before Council considers giving final approval to the budget.

Categories: budget, finance
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