Overall Financial Impact

The following information represents a quick look at how this year's budget impacts taxpayers and the Township as a whole,

• Total operating budget of $22,244,820.
• Total capital budget of $9,799,700.
• Represents 2% impact on average assessed property.
• Taxes (Township share) of $1,673.47 on average assessment of $273,061.
• Represents an increase of $32.79/year over 2021 base* amount (*before one-time tax reduction of 0.5% funded from reserves for pandemic relief).

Property Assessment During the Pandemic

• Due to the pandemic, reassessment of properties did not occur in 2021 or 2022 and is not anticipated until at least 2024, so there is no phased-in assessment revenue in 2022 (for the second year in a row).
• Assessment growth is 1.06% or $221,775, less than the anticipated amount of 1.75% or $350,000.
• This lower than expected amount is largely a result of delayed assessment by MPAC – NOT due to less than anticipated building.
• Based on a “growth funds growth” approach to organizational development, this lower assessment growth means less investment in human resources in 2022 budget than initially proposed.

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