2024 Budget

Municipality of Port Hope staff have been working to develop the 2024 Capital and Operating Budget. This process is one of the most important tasks carried out by staff and takes many months of planning before it is presented to Council for consideration.

Watch this quick video on how a municipal budget is developed to learn about the municipal budget process.

2024 Budget Approved

At their regular Council meeting on December 5, Municipality of Port Hope Council voted unanimously to approve the 2024 budget.

Read our media release for the new announcement or visit porthope.ca/budget for the the final budget information.

Budget development

The municipal team has dedicated several months to crafting a preliminary submission for the 2024 operating and capital budgets. This intricate process stands as one of the team's most pivotal responsibilities, demanding extensive planning before it reaches Council for evaluation. In the current phase of budget development, the budgets available on the website are solely those proposed by staff. They provide recommendations for the operating budget, addressing the expenses essential to sustain ongoing operations and service delivery. Additionally, staff members extend their recommendations to the capital budget, encompassing significant project resources and future requirements for municipal assets such as acquisition, maintenance, and replacement.

Significant budget impacts

The 2024 budget faces two main challenges. First, historical underinvestment in infrastructure by the Municipality necessitates a significant boost in funding to ensure the continued smooth operation of our services. Second, the escalation of market prices has a widespread impact on various budgetary components, including expenditures on materials, personnel, fuel, and equipment. Addressing inflation proves particularly difficult for infrastructure, where costs experience a more pronounced increase compared to routine daily expenses.

The levy explained

The Municipal levy refers to the amount of money that a municipal government raises through property taxes to fund its operations and services. The Municipality relies on various revenue sources such as grants, user fees, funding from other levels of government, etc. to cover the costs of providing services. Property taxes are a significant part of this revenue, and the municipal levy represents the total sum of money collected from property owners within the municipality.

The identification of the overall municipal levy does not necessarily translate to an equivalent percentage increase in your property tax bill. The existing tax base encompasses all taxpayers, spanning residential, commercial, and industrial sectors. Approximately half of your property tax bill is allocated to meet the specific requirements of Port Hope, while the remainder is distributed to Northumberland County and local School Boards. The additional amount you contribute is contingent upon factors such as your property's assessed value relative to others in the community, your location in an urban or rural area, the services you receive (such as policing), and the extent of growth our community experiences with the influx of new residents and businesses.

Council budget discussions

Council convened for a two-day Finance Committee meeting on Tuesday, November 28, and Thursday, November 30, 2023, in the Council Chambers at Town Hall. During this session, Council thoroughly examined, evaluated, and discussed the proposed 2024 budget. The meeting was open to the public and live streamed on the Municipality’s YouTube channel.