KING TOWNSHIP WARD 3 COUNCILLOR
During a period of low inflation and low interest rates, King Township held annual municipal tax increases to 1.1% between 2018 and 2022. Avoiding higher taxes was welcomed during the pandemic, but the rising cost of goods combined with ballooning inflation and a labour shortage will add significant pressure to the budget going forward.
In addition to the significant cost of improving the road network, King Township will also have to shoulder the large cost of the new recreation centre being built in King City. Expected to be completed in the fall of 2024, the facility will include two NHL sized ice surfaces, a six-lane lap and leisure pool and separate therapy pool, an athletic complex, and multipurpose community room. The project was partially funded by federal and provincial government grants worth $38 million, but the town is responsible for funding the balance including all future budget increases. In fact, at the beginning of July town council approved an extra $10 million (an increase of 13.5%) to fund the now $86 million project due to "higher than anticipated construction costs" - before construction has even been started.
Projected budget increases for King Township.
Currently, Township staff project that the township’s budget will need to increase by 4.62% in 2023, 4.41% in 2024, and 3.56% in 2025. It's important to note that these figures are based on various assumptions and projects but have not yet been approved by council and are subject to change. It seems likely, however, that municipal taxes will need to be increased to fund future initiatives.
During such a volatile economic time, it's important that your elected representative has a solid financial background to make informed decisions with your tax dollars. As the CEO of an industry leading national media company for almost two decades, I have the right experience and financial background to protect your interests.
King Township Budgeted Expenditures for 2022
King Township Budgeted Revenue for 2022