Central Huron approves its 2024 budget
BY SHAWN LOUGHLIN
On Monday night, Central Huron Council approved its 2024 budget as presented by Treasurer Jeff Boyes, which includes a 5.47 per cent increase in cash requirements over last year’s budget for a total municipal cost of $9,336,312.
There was little discussion on the budget as presented on Monday night, as council had essentially decided on a direction at its final budget meeting. Councillors had a few questions about items here or there, but no real changes were made.
The tax rate increase for the Central Huron portion of the budget will be 5.16 per cent, reflecting the bit of growth in the municipality that will help pay for Central Huron’s needs this year. It is the second-highest rate increase for the municipality since 2018, only lower than 2023’s tax rate increase of 7.44 per cent.
Despite the relatively low attendance at the meeting, Boyes went ahead with his full budget presentation to ensure that members of the public could understand how their money would be spent in the coming months.
Residential assessment represents the bulk of the taxation class in Central Huron at 71 per cent, followed by farm and managed forests at 19 per cent, commercial at eight per cent with industrial, pipeline and landfill comprising the remaining two per cent.
As for the distribution of taxes, Boyes noted that just over half - 50.9 per cent - of the taxes collected will serve the municipality’s purposes (the aforementioned $9,336,312), while Huron County will take 35.3 per cent ($6,469,938) and the school boards taking the remaining 13.8 per cent ($2,526,199). He noted that the overall tax rate increase for Central Huron residents will be 4.35 per cent with the municipal, county and education rates factored in. That represents the aforementioned 5.16 per cent rate increase at the municipal level, a 4.53 per cent rate increase at the county level and no increase from the school boards.
That means a total increase of $59.74 per $100,000 of assessment. The average residential property, assessed at $211,000, will pay approximately $3,021.84 in taxes this year under the budget approved by council on Monday night.
More than half of the municipality’s revenue (52.92 per cent) comes from taxation. The rest comes from federal and provincial grants (16.68 per cent), fees and charges (16.5 per cent), interest and investment income (4.27 per cent), casino revenue (3.41 per cent) licences/permits/rentals (3.4 per cent), solar panel revenue (2.63 per cent) and the remaining 0.18 per cent comes from other grants.
Council approved the budget, later in the meeting passing a bylaw to accept the budget as presented and establish tax rates for the year.