Lambton County Council has approved a net levy rate increase of 5.5% to the County property tax levy, finalizing the 2024 budget at this week’s council meeting.
In total, the budget calls for $283.7 million in spending, $95.6 million of which will be raised through local property taxes.
"I’d like to thank council and staff for the time and effort made towards developing and reviewing this year’s budget,” Lambton’s Warden Kevin Marriott said in a news release. "It is a challenging year for all municipalities across the province when deliberating and reviewing budgets.
“Approving this year’s budget allows the County to continue the important work it provides for the community, as well as fund projects that are a priority to Council and Lambton County residents.”
The 2024 budget includes a contribution of $3 million towards the Affordable Housing Reserve Fund, an increase of $1 million from the amount that was contributed in 2023, officials said.
Council also directed staff to proceed with the final engineering design needed for the proposed intersection improvements at County Road 4 (Petrolia Line) and County Road 31 (Kimball Road) and that the costs of the design be included within the 2024 budget.
A final version of the County's 2024 Budget will be available online at lambtononline.ca/budget in the coming weeks.