5.5% tax increase in Lambton County draft budget

Sarnia-Lambton residents face a 5.5% increase in the county’s portion of their property tax bills this year unless county councillors find some savings during budget talks in March. The draft budget for 2024 calls for $283.7 million in spending, requiring an additional $6.1 million to be raised through the tax levy, Lambton County treasurer Larry […]

Sarnia-Lambton residents face a 5.5% increase in the county’s portion of their property tax bills this year unless county councillors find some savings during budget talks in March.

The draft budget for 2024 calls for $283.7 million in spending, requiring an additional $6.1 million to be raised through the tax levy, Lambton County treasurer Larry Palarchio told county council on Wednesday.

“It’s been a very difficult, challenging budget year for municipalities across Ontario, and the County of Lambton is no different,” Palarchio said.

The 2024 draft budget focuses on more funds for affordable housing, as well as ongoing road and infrastructure improvements.

If no changes are made by council, a 5.5% increase will mean homeowners will pay $26 more in 2024 for every $100,000 of property value on the county’s portion of their taxes. Property tax bills blend levies from the municipality, the county and education.    

DRAFT BUDGET HIGHLIGHTS:

• $3 million to go into the county’s affordable housing fund, up from $2 million last year. Since 2022, the county has put $6.2 million into that fund to address the region’s dire need;
• $3.8 million to reconstruct the intersection of Petrolia Line and Kimball Road, including a new roundabout;
• Lambton County has a AA+ credit rating with authorized debt of $37.8 million, well below its $100 million debt capacity;
• The good news is that taxes would be increasing more if it weren’t for $1.42 million in assessment growth;

Following Palarchio’s presentation of the draft budget at county chambers in Wyoming, former warden and Warwick Township Mayor Todd Case commented that the province is late in reassessing property values.

MPAC (Municipal Property Assessment Corporation) has not done a reassessment in eight years. When property values go up, so do property taxes, making it arguably less necessary for municipal governments to increase the levy, Case pointed out.

“We, the municipalities, are the ones that have to pick up the extra costs on the freight without (new assessment) numbers,” he said.

Palarchio agreed.

Council meets March 6 in Wyoming to finalize Lambton’s tax rate.

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