Budget Spotlight #8 - Snapshot of the 2024 Final Budget (1)

Projects and initiatives that support Council’s six strategic priorities have been incorporated into 2024 planning, with a focus on ensuring that Mississippi Mills is safe and sustainable, and an emphasis on a welcoming, inclusive, active, and healthy community.   

Municipal services and facilities are considered in the budget, and residents will see funds directed toward childcare services, libraries, and parks and recreation, to name a few.   

Overall, we have planned for a total of $42M in spending, with $25M going toward operating expenses and $17M to capital projects. 

TAXES 

Property taxes are collected on behalf of the Municipality and the school boards. Residents will see a 3.4% overall increase in Municipal taxes in 2024.   

Of your total tax bill, approximately 50% funds Lower-tier Municipal services, 34% funds Upper-tier County municipal services and 16% funds the school boards. 

The Municipality’s share of taxes pays for services that include: 

A significant investment in capital and infrastructure is planned for 2024, and funding for these projects comes from a variety of sources as detailed in the chart below: 

Major capital spending in 2024 includes $900,000 for the purchase of a new front run pump fire truck, over $6M in paving and roads improvements, and over $7M in water and sewer infrastructure.   

FUNDING 

Funding of Municipal programs, services, and capital projects comes from many sources.  Overall, a budget of $42 million in 2024 is funded by grants, bank financing, draws from reserves, fees and charges, water and sewer billing, and taxes.   

 

 

Thank you to residents who provided feedback and responded to our budget survey, we appreciate your input and we look forward to the year ahead! 

Please click here to view the Final 2024 Budget Document.