Springwater Township will be tapping residences for an extra $37.13 in property taxes this year. That will be the hit for the average property owner after township council last night passed its 2016 budget. The 1.16 per cent increase over last year includes the County of Simcoe approved budget and the education rate. New this year is the introduction of an additional 1% tax increase dedicated to the future replacement of township roads, bridges, fleet, facilities and parks.
For every tax dollar spent:
- $0.40 is retained by the Township
- * $0.36 goes to the County of Simcoe
- * $0.24 goes towards education.
The 2016 Budget includes gross expenditures of $27.5 million, of which $7.3 million is directed towards Capital Projects. Roads & Related Infrastructure Projects make up the largest portion of the Capital Budget with an allocation of $2.5 million, followed by Wastewater Infrastructure Projects at $1.5 million and Fleet & Equipment at $1.2 million.