With the town council approving its 2025 financial plan, local residents can expect a surge in property taxes, exceeding $100 compared to the 2024 financial year.
In Renfrew, property taxes are set to climb, following the town council's adoption of the 2025 budget on May 13. This comes with a whopping 10.35% increase in property taxes. The town anticipates generating $12,494,281 from property taxes, a significant boost from the $11,322,645.00 revenued in 2024.
So, what does this mean for the residents? On average, a resident with a $171,000 property assessment can expect to shell out an additional $212.02 in property taxes, including the Country of Renfrew's and the education tax levies. The town's portion of the increase amounts to roughly $172, while the county's is about $39.26, according to Deputy Treasurer Mitchell Ferguson.
It's important to note that property taxes rose in 2024 as well, adding $170.32 to the bill for a $100,000 residential assessment.
Let's delve into what exactly this budget entails. The capital budget is categorized into four priority levels: critical, high, moderate, and low. Some critical projects funded by taxation include fire hose yearly replacement, updates to the asset management plan, and Deslauriers Arena and Olympia garage door updates.
One ongoing project from 2024 is the Innovation and Whitton Road closure. Funding for this project comes partly from a Ministry of Transportation grant and partly from the town's road infrastructure reserves. The Ma-te-Way water main replacement construction will also receive $920,000 from reserves through the Ontario Community Infrastructure Fund.
Now, let's talk about the McDougall Mill Museum. Despite facing some accessibility issues, such as barriers for washrooms and exhibits on the second and basement levels, the museum aims to meet the Accessibility for Ontarians with Disabilities Act standards. The museum will remain operational in 2026, allocated a budget of $199,532 for operation this year, with an additional $5,500 earmarked for emergency lighting installation.
- In addition to the rising property taxes, residents might also be concerned with other aspects of life, such as the ongoing project of the Innovation and Whitton Road closure and the accessibility issues at the McDougall Mill Museum.
- While the increase in property taxes discusses business matters, the accessibility issues at the museum can be seen as an opinion or concern regarding education and equality.
- As the town Council focuses on critical projects like the updates to the Deslauriers Arena and Olympia garage doors, some residents might debate whether these expenditures should be prioritized over other needs in the community, like addressing the accessibility issues at the McDougall Mill Museum.
- Moreover, in a bustling town like Renfrew, the rising property taxes could be a topic for discussion among residents, business owners, and even the political sphere, especially when considering the town's financial situation in relation to its growth in other areas like entertainment, sports, and the arts.
