Peterborough County Approves 2025 Budget

Posted on Monday December 09, 2024

Peterborough, ON – Peterborough County Council has approved the 2025 Budget during today’s Council meeting. The approved budget includes a tax rate increase of 6.28% (tax levy increase of 8.4%), reflecting the County’s commitment to sustainable infrastructure and reducing dependency on reserve funding.

Key highlights of the budget include:

  • Dedicated Infrastructure Levy: A 2.5% allocation specifically for infrastructure needs.
  • Operational Sustainability: Elimination of reliance on reserved funding to support ongoing operations.
  • Tax Rate Adjustment: A tax rate increase of 6.28%, amounting to approximately $66.00 for the average assessed household.

This budget underscores the County’s strategic priorities, balancing the need for robust infrastructure investment with a fiscally responsible approach to operational funding.

“Peterborough County Council is tasked with balancing the need to invest in our communities with the rising cost of living for our ratepayers.”, said Warden Bonnie Clark This budget enables continued investment in services to meet the needs of our residents and townships, provides for much needed maintenance on key infrastructure, while eliminating the draw on reserves for operating needs.

The work does not end here. County Council, the Finance Committee, and staff will continue to find efficiencies and opportunities throughout the organization in the months ahead.”

For more information, please contact Tracie Bertrand, General Manager, Tourism and Communications at tbertrand@ptbocounty.ca or 705-743-0380 ext. 2502