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2- The Oakville Beaver, Friday November 7, 2008 www.oakvillebeaver.com Entertaining Ideas... Town eyes tax hike Includes Wine Cooler! $1099 Choice of Stains $1099 Made in Canada 217 Lakeshore Road East Downtown Oakville Since 1953 321 Cornwall Road, Olde Oakville Market Place 321 Cornwall Road, Olde Oakville Market Place (next to Whole Foods) 905.815.8777 (next to Whole Foods) 905.815.8777 OAKVILLE WATERLOO www.swissinteriors.com PROUDLY SUPPORTING CANADIAN MANUFACTURERS 905.844.3530 Oakville taxpayers could face a 4.41 per cent property tax hike for 2009. The Town of Oakville has released its operating and capital budgets to the Budget Committee -- headed by Ward 6 Councillor Tom Adams this year -- identifying the top challenges and their potential tax impacts. The proposed 2009 operating and capital budget totals $277.2 million -- the net tax levy for Town purposes being $117.7 million. The proposed budget would translate to a 4.41 per cent hike on the property tax bill or $46 per $100,000 of assessment. That means a home assessed at $400,000 will pay an extra $184 per year or $3.54 per week. "We have a set of strategic priorities in our four-year plan to ensure our residents have the programs, services, environment and facilities to get Oakville closer to being the most livable town in Canada," said Mayor Rob Burton. Key budget challenges for 2009 are inflation, economic uncertainty, the price tag of new and improved programs approved last year, the cost of infrastructure growth and replacement and new service enhancements like transit and firefighting. The Town has a capital levy that sets aside funds for the replacement of aging infrastructure and construction of new infrastructure -- a 0.35 per cent increase on the property tax bill. Top capital projects coming up, "We have a set of strategic priorities ... to get Oakville closer to being the most livable town in Canada." Mayor Rob Burton include $6.5 million for new and replacement transit buses; $7 million for road rehabilitation, $14.7 million for expansion of road capacity; and $1 million for forestry projects, including $200,000 for street tree planting. "Over $2 million of the increased costs that you see reflected in this budget are the annualized costs to deliver the new programs and infrastructure approved by Council in its 2008 budget," said Town Treasurer Patti Elliott-Spencer. The budget committee could reduce the proposed tax hike and staff has provided options that would put the tax hike between 3.2 per cent and 4.6 per cent. Options to reduce the tax impact include user fee increases and a broad range of potential service reductions. The next Budget Committee Meeting is Monday, Nov. 10, 1:30- 4:30 p.m. at Town Hall, 1225 Trafalgar Rd. For information, contact kpatrick@oakville.ca or 905-338-4235. Residents can e-mail budget2009@oakville.ca or visit www.oakville.ca/2009budget.htm for information. Oakville's Budget Committee meetings can be viewed live on Town TV.