Markham Council approved the City’s 2020 Budget of $522.01 million on December 10. The budget preserves current service levels and continues investments in Council-approved priorities. The 2020 tax rate increase of 1.95 per cent means an increase of $24 in property taxes for the average household in Markham.
The tax rate increase includes 1.45 per cent for day-to-day operating costs. An additional 0.50 per cent for infrastructure investment ensures there are sufficient funds to repair and replace City assets for the next 25 years.
“It was important for me to bring the tax rate down to below the anticipated rate of inflation,” said Mayor Frank Scarpitti. “Our approach throughout the budget process continues to be thoughtful and measured. The Budget Committee undertook a comprehensive review to find efficiencies and savings, while delivering value for our taxpayers. We are steadfast in our commitment to providing exceptional services, protecting city assets and to investing in a bright and promising future.”
“Markham continues its track record of strong fiscal management,” said Budget Chief Councillor Amanda Collucci. “Each year, senior staff and Council take on the challenge of keeping the tax rate increase low, while preserving excellent service delivery and continuing investments in key priorities. This year Markham will be building new parks, expanding the trail network, and ensuring our community centres, libraries, museums and theatres remain in excellent condition. The balance we’ve achieved for 2020 allows us to ensure our residents continue to receive the best value for their hard-earned tax dollars.”
Markham collects property taxes on behalf of York Region and the Province of Ontario, with 51 per cent of all Markham taxes going to York Region. The City of Markham retains approximately 25 per cent of the taxes collected with the remaining 24 per cent going to the Province for education.