York Region approves 2025 $4.8 billion budget

December 4, 2024 · 0 Comments

York Regional Council unanimously approved a $4.8 billion 2025 Budget, the third year of the multi-year budget aligning with this term of council.
The budget includes a tax levy increase of 3.55% and the continuation of a separate 1% Rapid Transit and Infrastructure tax levy which will add approximately $133 to the average residential tax bill.
The tax levy is 0.95% higher than last year’s outlook to support community safety initiatives. This includes providing York Regional Police with 304 sworn officers and civilian staff over the next two years; an increase of 212 staff and officers over the 2024 endorsed outlook.
“The 2025 budget reflects our priorities, including continued investment in core services that enable growth in our communities and keep people, goods and information moving,” said York Region Chairman and CEO Wayne Emmerson. “This budget also provides additional investments in community safety, reflecting Council’s ongoing commitment to community health and well-being.”
The $4.8 billion budget includes $3.5 billion in operating costs and $1.26 billion in capital expenditures.
The 2025 $3.5 billion operating budget covers day-to-day expenses, with 81 cents of a Regional property tax dollar funding frontline programs and services. This includes 31 cents for Public Works, 30 cents for York Regional Police and 20 cents for Community and Health Services.
The 2025 $1.26 billion capital budget includes spending on growth-related projects and renewal of existing assets. These expenditures are part of York Region’s record high $12.2 billion 10-year capital plan.
The budget has been adjusted to accommodate for additional provincial funding finalized after the proposed budget tabling presentation. The increased funding will support Regional services, including Children’s Services and Paramedic Services.
York Region’s multi-year budget aligns with the Region’s Strategic Plan, supports delivery of Council’s priorities, guides departmental spending and follows the principles of the Region’s Fiscal Strategy.
“The 2025 budget demonstrates our collective commitment to fostering strong, caring, safe and inclusive communities,” said Township of King Mayor Steve Pellegrini, Chair of Finance and Administration. “This is achieved through the continued adoption of a sound fiscal strategy, helping ensure we achieve financial sustainability while being fair to current and future taxpayers.”
York Region’s financial management is guided by the Fiscal Strategy, aiming for the long-term goal of financial sustainability through prudent management of the capital plan, reserves and use of debt. This strategy ensures a balance between the needs of current and future taxpayers while aiming to maintain triple A credit ratings.
Through operating and capital spending, York Region will continue delivering its 15 core services while building and maintaining infrastructure required for the growing community.