York Regional Council approved a 3.9% tax increase to support the 2023 budget.
Regional Staff see Bill 23 cutting development charges (DCs) revenue by up to 33%, reducing funding for York Region’s 10-year, $9.9 billion Capital Plan by over $1.5 billion.
Laura Mirabella, Commissioner of Finance, said York’s Capital Plan is “necessary to support the growth of the region,” which is dictated by the Provincial Growth Plan.
Lost DCs would need to be covered by significant tax and rate increases, service and capital plan reductions, additional debt, and/or reserve spending, forcing the Region’s taxpayers to subsidize new growth.
The Ontario government vaguely suggested they will “make municipalities whole,” however they have not explained how.
“We’ve been saying ‘we want to be kept whole’ for months and we’re hearing crickets,” Newmarket Mayor John Taylor explained. “That’s not giving me a good feeling…We want clarity soon.”
Stouffville’s Councillor Richard Bartley referenced millions in losses faced by the Town on top of these Regional impacts, and inquired about related dialog with the Province.
“To be honest, there is not a lot of communication with the province,” Paul Freeman, York’s Chief Planner, responded.
Does the Ontario government truly intend to cover revenue losses due to Bill 23? If so, how?
