City of Mississauga 2021-2024 Business Plan and 2021 Budget – City Portion Proposed at 1 % for Residential Property Tax

Today, City staff’s overview presentation of the proposed 2021-2024 Business Plan and 2021 Budget at Budget Committee began with an economic outlook by Andrew Grantham, Executive Director and Senior Economist, Canadian Imperial Bank of Commerce (CIBC).

Grantham stated, “Like the rest of the country, the Mississauga economy has been severely impacted by the effects of the COVID-19 pandemic. However, owing to the strong and swift support from governments and the central bank, the economy is well positioned to rebound from this crisis particularly after a vaccine becomes available.”

2021 Tax Impact
The 2021 impact from the City’s portion on the residential tax bill is proposed at 1 per cent. On the commercial/industrial tax bill, the proposed amount is 0.6 per cent. This does not include impacts from the Region of Peel services.

“COVID-19 has shown the role of local government has never been more important,” said Paul Mitcham, City Manager and CAO. “Early on, the City took actions to mitigate the financial impact such as temporary staff layoffs, a hiring freeze, discretionary spending review and deferral of some 2020 capital projects. We greatly appreciate the $46 million allocated in August by the federal and provincial governments through the Safe Restart Agreement. Even with this funding, the City will face additional financial challenges and difficult decisions will need to be made. We will continue to seek partnerships and advocate for sustainable long-term funding from the federal and provincial governments.”

“Public health remains our first priority. In 2021, we will continue to manage the financial impacts of the pandemic and eventual recovery from it by providing necessary services that the public rely on while minimizing the property tax required,” said Gary Kent, Commissioner of Corporate Services and Chief Financial Officer. “We expect 2021 to be another tough year economically for the community and we will continue to look for new sources of funding and savings while staying true to our long-term financial plans. Through diligent monitoring and assessing future business plans and budgets, we will continue to manage the significant financial impacts we are facing from COVID-19.”

The 2021 Budget considers financial recovery strategies, outlined to Budget Committee throughout 2020, to offset budget pressures due to the pandemic. These include:

• Return to normal fee schedule and collection as soon as possible
• No new material service level changes in 2021
• Reduce discretionary spending
• Critical assessment of capital expenditures
• Use of reserves
• Continued collaboration with other municipalities to seek assistance from higher levels of government
• Increase user fees

A presentation on Mississauga’s economic growth story by Bonnie Brown, Director, Economic Development, highlighted that:

“Mississauga’s strong economic fundamentals have helped us weather and respond to the pandemic. However, it is still essential that we continue to support and advocate for our hardest hit businesses. Strategic investments in our small businesses and innovation resources will be critical to the city’s long-term recovery.”

Stormwater Charge

The City’s Stormwater Program is funded by the Stormwater Charge, a dedicated source of funding separate from property taxes. The Stormwater Charge appears on the Region of Peel water bill and in 2021 the rate increase is set at 2 per cent. This means the average residence will see an increase of $2.20 or less.

Fees and Charges
The City’s Budget Committee previously considered new and increased fees and charges for 2021. This included transit fares and fees for Recreation and Parks, Forestry and Environment programs. Additional revenue of approximately $1.9 million is expected from the increases and new fees.

Learn more about the City’s 2021 Business Plan and Budget:

• Visit mississauga.ca/budget
• Read an overview of the  2021 preliminary Business Plan & Budget that was presented to Budget Committee on June 24, 2020
• Watch or attend Budget Committee deliberations scheduled for November 24, 30, December 1, 2 (Budget Committee meeting schedules are subject to change)

Choose from several ways to get involved and share your thoughts:

• Have a question or comment – email us at budget@mississauga.ca
• Follow the City on Facebook and Twitter
• Attend a Budget Committee meeting or watch online

The Region of Peel is to present a regional budget in the New Year and the City of Mississauga’s total tax overview will follow the regional budget presentation. Council approval of the budget is to follow Region of Peel’s final budget.

Tags

• Budget and Taxes