Sources of Revenue
City operations are primarily funded through property taxes and user fees, except for water and wastewater operations, which is funded through user rates. Capital spending is funded through taxes, water and sewer fees, debt, grants, or other reserve funds.
Approximately 69 per cent of the City’s operating budget revenue comes from property taxes. The remainder comes from grants, user fees and other revenues.
While actively exploring additional revenue streams, the city looks to balance its budget by focusing on operational efficiencies, expense management, and maximizing revenue from property taxes and user fees.
| Where the Money Comes From | Percentage | |
|---|---|---|
| Property Tax | 69 | |
| User Fees & Other Revenues | 18 | |
| Ontario Municipal Partnership Fund | 7 | |
| Internal Transfers | 7 |
Tax Levy vs. Tax Rate
Did you know that the tax levy is different than the tax rate?
The property tax levy represents the total amount of revenue that the City intends to collect through property taxes, while the property rate determines how much property tax you pay, based on the assessed value of your property.
How Property Taxes are Calculated
Calculating Property Tax
Property taxes are calculated by multiplying the assessed value of a property by the tax rate applicable to the class of the property. This property tax estimator will give you an estimate of your total annual property taxes.
Related Information
Contacts
Margaret Karpenko, CPA, CMA
Chief Financial Officer / Treasurer
Shannon Saucier, CPA, CA
Director of Financial Services