Budgets
Every two years, the Town of Innisfil develops a service-based budget that identifies the cost of providing services to our community. Within the overall budget, Council adopts an operating budget and a capital budget.
The operating budget addresses the day-to-day cost of providing services to residents and businesses. The capital budget looks ahead to identify the infrastructure that we need to build and maintain. The budget also includes the financial components of the Town's strategic and master plans as adopted by Council.
2023-2024 Budget
We presented the proposed 2023-2024 Budget to Council on December 14, 2022. After deliberation and amendments, the 2023-2024 Budget was approved at the Council Meeting on February 8, 2023.
The approved 2023-2024 Budget includes a 5.25% municipal property tax increase in 2023 and 4.95% in 2024. This equates to an annual increase in municipal taxes of $239.21 in 2023 and $237.22 in 2024 for the average household.
Any budget for any organization requires prioritization. After financial challenges stemming from a two-year-long pandemic and extraordinary inflation, difficult decisions had to be made to try and balance the need for growing service delivery with maintaining affordability for our taxpayers.
Supporting documents for the 2023-2024 Budget
- Capital Project Detail Sheets
- South Simcoe Police Service 2023 Operating Budget and 2023 Capital Budget
- Lake Simcoe Region Conservation Authority 2023 Draft Budget at a Glance
- Nottawasaga Valley Conservation Authority 2023 Draft Budget Booklet
2023-2024 Budget highlights |
The Town’s operating budget, excluding Police, includes $62M (2023) and $64.8M (2024) for the delivery of day-to-day services to resident and businesses, and a Capital Levy of $10.1M (2023) and $11.7M (2024) for the repair and replacement of assets. The capital budget of $68M (2023) and $53M (2024) looks ahead to identify the infrastructure needed to maintain and build Town assets. Highlights of the 2023/24 Operating budget include:
Key Capital Projects:
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Budget deliberation recordings |
Council deliberated the 2023-2024 Budget on January 25 and 27, 2023. |
Guiding financial policies |
Every Town project, initiative and goal, as well as our budget planning, is guided by our Community Strategic Plan: Innovative Innisfil 2030. This plan was developed through extensive consultation and thousands of comments and pieces of feedback from the community. The pillars of Grow, Connect and Sustain guide our strategic goals and initiatives. We also use these Town financial policies to guide our decision-making when developing the budget:
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2023-2024 Budget engagement |
Thanks to everyone who took the time to complete our budget survey! Check out the engagement summary report to see what your fellow neighbours said about service level priorities. Please email us at budget@innisfil.ca with any comments or questions. |
About the Budget
Learn more about how the Innisfil Budget is developed and where funds are distributed throughout the community.
Breakdown of your tax dollar |
Capital LevyJust like your car, house or electronic devices, physical municipal assets have a limited lifespan and require ongoing maintenance to extend their life. Eventually, they need to be replaced or discarded. The Town collects a Capital Levy—money set aside to help pay for the repair and replacement of existing assets or new assets and projects that aren’t eligible for funding from development charges. |
How your tax dollars are calculated |
Property assessment and property taxes play a significant role in the Town's budget. The Municipal Property Assessment Corporation (MPAC) is responsible for assessing every property in Ontario. The Town uses the property assessments to determine the tax rate required to collect the revenue needed to deliver services to our residents. The tax rate is then applied to the assessed value of each property to arrive at the amount of property taxes owed. Learn more about property taxes and assessments. |
Service-based budgeting |
Our service-based budget breaks down costs and resources by service, rather than by department, helping residents better see where tax dollars are being spent. Advantages of service-based budgeting
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Operating Budget vs. Capital Budget |
Learn more about the differences between an operating budget and a capital budget: Operating BudgetThe operating budget is used to keep the municipality running on a day-to-day basis. When you call the Town to report a problem, pull over for firefighters on their way to a call, or attend a library program, this is the operating budget at work. It makes up essential services, such as pothole repairs, snow clearing and park maintenance. This budget ensures that we have engineers, librarians, community standards officers, town planners, administrative support, financial analysts and an overall great team of employees who strive to make Innisfil a great place to live. Capital BudgetThe capital budget is used to request funding for new assets, major repairs and replacement of existing assets. Whether we are building a new health centre, replacing a roof on a building or repaving a road, this is the capital budget at work. Capital budget projects include initiatives like bridge repairs, road-widenings, new parks and facilities, and new construction, expansions or renovations. |
Past Budgets
View past Town of Innisfil budgets:
Please contact us to request budgets for previous years.