City budget submitted for Hamilton

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The City of Hamilton is releasing its tentative budget for 2015. While the process is underway, there will still be adjustments made over the next few months, as staff discuss user fees, charges, and rates at committee meetings.

The city manager posted the 2015 preliminary budget Monday afternoon, breaking it up into three different sections. The main section is the tax operating budget which is linked to the city’s business and strategic plan with a focus on three priority areas.

Council identified them as a prosperous and healthy community, valued and sustainable services, and leadership and governance.

The city has also identified some of the key challenges Hamilton will face over the next few years. They include additional funding for capital renewal in order to overcome the current annual deficit of 195 million dollars, the need to balance more competitive property tax rates with key investments in the community, and providing funding and resources to address future priorities.

According to the preliminary budget, the city is operating at an increased cost of $35.6 million this year and the residential municipal tax increase will be 4.4%. That means for the average homeowner, they’ll be paying $136 more in 2015.

This is still a preliminary budget. There is a deliberation process involved where council will try to create an appropriate budget that balances the need to limit tax increases while protecting services. The city says that process is expected to be completed by the end of March, beginning of April.