Budget Message - 2016 Budget Summary
On behalf of Corporate Services and the Budget Review Committee, we are pleased to present the 2016 levy, rate and capital budget summaries, approved by Regional Council on Dec. 3, 2015.
Regional Council approved a net zero per cent tax increase. For the average household with a home assessed at $240,500, the Regional portion of your tax bill will remain unchanged from 2015 at $1,399.
The 2016 net operating budget of $325 million maintains all current programs and services and provides funding for new and enhanced services that will support economic prosperity, including:
- $1 million in additional investments for inter-municipal transit and the Niagara GTA corridor, in addition to supports for GO transit
- $1.1 million to promote employment and residential growth, in partnership with area municipalities and private sector investors
- Building a healthy and safe Niagara with an additional $2 million in increased investments to better serve residents of Niagara
The gross operating budget for Niagara Region is $880 million.
The $165 million capital budget will support the following significant infrastructure projects in 2016:
- $20 million to open lands for business and residential development
- $10 million to advance GO transit across Niagara
- $50 million to improve Niagara regional roads and bridges, including $9 million in funding for road resurfacing
- $11.6 million to build more affordable housing for residents, including funds received from federal and provincial governments
The total of all operating and capital budgets contribute to the Region's total 2016 budget of $1 billion.
We would like to extend our appreciation for the support provided by staff and Council, and for their dedication to the budget process.
Treasurer, Commissioner of Corporate Services