The Township of Lake of Bays has approved its 2024 budget, supported by a 9.06 per cent tax rate increase.
That means a home assessed at $300,000 will pay an extra $52.77 per year. Officials say that’s the impact of supply chain issues, COVID-19 recovery, inflation, and global disruptions.
The total budget comes in at $15,920,057, up about 22.2 per cent from $13,027,227 in 2023. That’s split between the roughly $11-million operating budget for costs such as maintenance and services, and the $4.2-million capital budget used to purchase new assets and replace old.
Notable spends in this year’s budget include renovations or equipment upgrades at the Dwight Public Library, Baysville Arena, and Paint Lake Pioneer Cemetery. The township is also increasing its contribution to the Dorset Health Hub to $32,000, creating new grant programs, and conducting multiple studies as well as an official plan review.
You can view the full budget at the township’s website.
