Regional Council approves $3.96 billion budget
York Regional Council approved the 2023 $3.96 billion budget, the first of a multi-year budget to align with the current term of Council. In addition to a 2.9% tax increase for this year, the budget outlook for the remaining three years of the 2023 to 2026 term of office was endorsed.
As part of the 2023 budget deliberations, Regional Council reconfirmed its commitment to add an additional 1% to the tax levy to help fund the Region’s $1.12 billion portion of the Yonge North Subway Extension.
The 2023 budget includes $3.06 billion in operating costs and $894 million in capital spending, part of a 10-year capital plan of almost $10 billion in spending. Together, the levies add approximately $105 to the average residential property bill.
The approved budget includes a key initiative to invest $12.8 million annually for the next four years to address critical issues related to housing, homelessness, community investments and mental health.
For additional information, please visit York.ca/budget