2022 Budget

Each year the Town of Newmarket undertakes a detailed budget planning process to ensure we are meeting the needs of our community now and in the future. This includes valuable input from the community which helps guide the Strategic priorities of Council. This year, the global pandemic continues to have a significant impact on our community but rest assured, the Town is doing everything to limit the impact of services to residents.  

Throughout the 2022 Budget process, resident feedback is one of the key components to building a successful budget. 

Thank you to all 250+ residents that participated in the 2022 Budget Survey this year! This year, we asked you to rank services that are the most important to you. With the financial effects of the pandemic weighing on the minds of our residents, we are committed to doing everything we can to limit the impact of services to residents, while still planning for the future. Congratulations to Lois F. of Newmarket for winning the $100 gift card to a local Newmarket business in support of the Choose Local program. 

2022 Budget Approved 

Newmarket Council approved the 2022 Budget at the December 13 Council Meeting that will result in a 1.99 per cent tax increase (Town Portion). As a result of Council direction, this increase is one percent lower than the originally proposed 2.99 per cent increase. The 2022 Budget balances fiscal responsibility with planning for the future, while at the same time recognizing the financial impacts the community is facing during the pandemic. One percent of the increase is dedicated to the Asset Replacement Reserve in keeping with the Town’s Financial Strategy, leaving an operational increase of only 0.99 per cent.
 
The total approved 2022 Operating Budget is $141.6 million and the Capital Budget is $32.8 million, with a combined total of $174.4 million.

With the 2022 Budget, the Town of Newmarket continues to maintain its high level of services, while keeping tax rates in Newmarket  lower than the rest of the GTA. Staff were able to find approximately $667,000 in savings through efficiencies and reductions to continue to keep tax rates low. For the average home assessed at approximately $702,400, residents can expect to see a property tax increase of $44.09 ($3.67 per month), a $53.47 ($4.45 per month) increase on the water and wastewater bill and an increase of $5.91 ($0.49 per month) for the stormwater charge. 

• Increasing funding for parks, trails and green spaces to support Council’s Strategic Priority to create extraordinary places and spaces.
• Finalizing all detailed engineering work related to the Mulock Park.
• Advancing the Newmarket Outdoor Arena to be located at the Ray Twinney Recreation Complex.
• Completing the final design on the Mulock Multi-Use Path which will run from Bathurst Street to Harry Walker Parkway (approx. 6km) along Mulock Drive. 
• Completing Newmarket’s first Outdoor Skate Park at the Magna Centre designed with and for youth.
• Modernizing the Town’s service delivery through technology and process improvements (Digital Transformation Strategy).
• Maintaining all levels of service as noted by residents as the number one priority through the 2022 Budget Survey.
  

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