It’s a new year and time to get to back to work on the draft budget.
The Finance and Labour Relations sub-committee meets Thursday at city hall.
Mayor Martin Ritsma said council are currently facing a 6.27 per cent increase.
That’s a property tax increase of about $355 per year on the average household in the city.
Residents paid an $80 million total levy last year.
That is projected to jump to about $87 million, necessitating an increase.
Though it’s a team effort, the mayor said he would personally like to see that figure closer to the five per cent mark.
“It has to be affordable and yet it has to be a budget where we can offer services to our residents. So it is a double-edged sword.”
The operating budget accounts for the largest potential hike.
In that portion of the budget, Stratford police are asking for an additional $2.2 million year-over-year.
Capital expenditures are pegged at $37 million, including the next phase of the Albert Street project from Front Street to King Street.
That work, including sanitary and storm sewers, water, curbs and asphalt, is expected to begin in the spring.
“It’s a continuation of what we call a ‘complete street’, a transportation design model that prioritizes the use of the street. From walking to cycling, to transit to vehicle,” said Ritsma.
The Finance and Labour Relations sub-committee meets to consider matters relating to the financial operations of the city and makes recommendations to city council.
