News release: November 17, 2023
Highlights from Day One of Peel Region's 2024 Budget Presentations
BRAMPTON, ON (November 17, 2023) - Yesterday at Regional Council, the 2024 Corporate Budget Overview was presented, along with the Peel Regional Police Budget.
The 2024 Corporate Budget Overview highlighted some of the challenges Peel is facing as a growing community with increased service demands. Ongoing challenges include heightened inflation, aging infrastructure, the climate emergency and changing legislation.
The proposed 2024 Budget includes investments of $5.9 billion to maintain current service levels for a growing population, while addressing priority community needs. Critical urgent needs being addressed include:
- The housing affordability crisis
- The influx of asylum seekers
- The climate change emergency
- Public health and safety
- Provincial housing targets that require aggressively updated infrastructure targets
To address the challenges being faced, the 2024 Budget also reflects $9.0 million in savings and cost avoidances found through continuous improvement efforts and cost containment measures.
The 2024 Budget proposes an average property tax increase of 4.5%, of which 2.6% is attributed to Peel Regional Police promoting and maintaining the safety and well-being of our community, and a utility rate increase of 6.8%.
Next steps and more information
- Nov. 23, 2023: Presentations for Regionally Controlled Services.
- Nov. 30, 2023: Presentations for Regionally Financed External Organizations including Credit Valley Conservation Authority and Toronto and Region Conservation Authority.
- The Regional Council Budget meeting(s) are open to the public and residents may attend. The meeting will also be live streamed on peelregion.ca.
- The proposed 2024 Regional Operating and Capital Budget is available at peelregion.ca/budget.
Media contact
Genevieve Ricciardella
Communications Specialist
Peel Region
About Peel Region
In 2024, Peel Region marks its 50th anniversary. Peel Region works with residents and partners to create a healthy, safe, and connected Community for Life for approximately 1.5 million people and over 200,000 businesses in Brampton, Mississauga and Caledon. Peel's services touch the lives of residents every day. For more information explore peelregion.ca and follow us on X @regionofpeel and Instagram @peelregion.ca.
On December 13, 2023, the Ontario government announced that Peel Region will not be dissolved, and that Bill 112 legislation will be updated to reflect service delivery in Peel. Services for residents and businesses will continue without interruption. For updates and more information, visit Peel's transition page.
