Brampton City Council passed the 2010 Budget on December 9, 2009. Challenged by a tough economic climate, the City’s 2010 Budget focuses on providing core programs and services to residents while deferring spending, where possible, to future years. The City of Brampton’s 2010 Budget is $408.2 million, with a capital budget of $241.4 million.
Starting in early 2009, City Council established parameters and objectives for the 2010 budget process, including:
Stimulating the local economy and labour market
Targeting scarce resources to meet immediate priorities
Insulating taxpayers, as much as possible, from the economic pressures the City faces
Through meeting these objectives, the 2010 Budget strikes the right balance between controlling spending and limiting tax increases, while addressing the increased demands that Brampton faces as a provincially designated high-growth municipality.
On their annual tax bill, residents pay for services provided by the Region of Peel, the City of Brampton, and the local public and Catholic school boards; the City of Brampton’s portion of the bill is 40%. For 2010, the City requires a budget increase of 2.9% over 2009 levels to meet its operating and capital commitments. This means that, based on the City’s share of the overall tax bill, the City of Brampton is increasing taxes by 1.1%.
This translates into an approximate $42 tax increase on an average residence assessed at $310,000.