What you need to know about 2024 Tax Increases in Grey County and Owen Sound.

What you need to know about 2024 Tax Increases in Grey County and Owen Sound.

Grey County's Tax Levy Increase

Grey County Council has approved a 6.3% tax levy increase for the upcoming year. This decision comes after intense deliberations, with the initial proposal being close to a 15% increase. The average homeowner in Grey County, with a home assessed at $289,000, can expect a $69.28 increase in their county taxes.

Warden Brian Milne, while expressing conflict over the decision, deemed the 6.3% increase reasonable under current circumstances. However, it's worth noting that this increase necessitated budget cuts, including a significant $438,000 reduction in the community transportation budget. This cutback will affect the Grey Transit Route service, a decision Milne found disappointing due to its impact on the accessibility for all residents.

The budget bylaw, based on this levy increase, is set to be officially passed at a later date, with policies and discussions planned for 2024. You can read the full story here.

Owen Sound's City Budget Levy Increase

Meanwhile, in Owen Sound, the council is considering a preliminary budget with a 3.16% city budget levy increase. This increase would result in an average residential taxpayer facing about a $155 increase in property taxes next year. When combined with the Grey County levy, the total increase amounts to 3.63%.

To alleviate some of the financial burdens, the council has made some such as raising bag tags from $2 to $3.50 and shifting the Grey Sauble Conservation Authority levy onto the water rate. These changes aim to generate additional revenue and save on the tax levy.

A public meeting scheduled for January 29 will provide an opportunity for budget input, and the final budget is expected to be passed on February 12, after reviewing a report containing community feedback. Owen Sound has the highest taxes in the region with the average tax payment for a three-bedroom bungalow with 1 1/2 bathrooms and a one-car garage were$4,268, surpassing all other 12 area communities. The other communities, in descending order of their tax rates, were Kincardine ($3,640), Chatsworth ($3,431), Hanover ($3,182), Saugeen Shores ($3,105), South Bruce Peninsula ($3,002), Southgate ($2,967), Meaford ($2,847), Blue Mountains ($2,656), West Grey ($2,536), Grey Highlands ($2,419), and Georgian Bluffs ($1,860).

You can read the full article here.