York Region has finalized a budget that will see taxpayers face a 4.55 per cent tax rate increase for the regional portion of their bills.
Regional council unanimously finalized the $4.6 billion budget Nov. 28. After months of work, the budget is moving ahead with increases in spending on police, about $1.3 billion in capital spending authority, 400 new housing units and more.
The tax rate increase includes a 3.55 per cent base increase, along with a one per cent levy to fund the Yonge-North Subway Extension. Chair and CEO Wayne Emmerson said it is a “good budget.”
“Staff have done an exceptional job making sure all areas are covered,” Emmerson said.
The tax rate increase will see the average York Region annual property tax bill increase by $133 on a home assessed at about $805,077. In Newmarket, the average increase should be about $106, while in Aurora it is $131.
Beyond the tax rate, York Region is also planning to increase transit fares in July of 2025 and 2026 by three per cent each time to address “increased service costs.”
The tax increase is slightly above an outlook of 3.6 per cent including the rapid transit levy, which staff said was due to more police staffing in the next two years and other budget pressures. The police budget increased by $31.4 million, or 7.7 per cent.
The budget also lays out $12.2 billion across a 10-year capital plan. However, staff noted another $2.4 billion in priority projects, including $380 million in community housing, are not yet included as they wait for funding from other levels of government.
On the housing front, the region has included full costs for the upcoming community housing project at 62 Bayview Pkwy. in Newmarket, which could have up to 250 units, doing the same for Markham’s Box Grove community which could bring up to 150 units. In total, York Region has 497 community housing units in development.
The complete budget is available on the York Region website.
