Based on the Region of Peel’s approved 1.3% tax increase and assuming no change in the Education tax, the total property tax bill for a Brampton resident would increase by 2.5% (down from 2.6% in 2011) and well within the current rate of inflation of 2.9 %.
There are three components (Region, City and Education) to this overall property tax bill, of which the City of Brampton’s portion is 41%. For 2012, the City requires a tax increase of 4.9% which translates into a 2.0% increase on the total tax bill. This works out to an approximate $75 tax increase on the City portion of an average residential household whose property is assessed at $330,000 (2011: $320,000).
The 4.9% provides for a 3.9% budgetary increase for the continued maintenance of existing service levels and an additional 1% levy dedicated to addressing the City’s infrastructure deficit., $1 million has also been set aside in a special reserve for the redevelopment of Peel Memorial Hospital.