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Details of the 2024 Budget

The Budget makes important investments in community housing, infrastructure, community safety, paramedics, seniors services, and climate change.

The 2024 Budget meets the needs of the community with a net tax levy increase of 10.6% or an overall property tax increase of 4.5% to the taxpayers and a utility rate increase of 6.8%.

Key timelines of the 2024 Budget:

2024 total investments: $5.9 Billion

The 2024 Budget supports and advances Council's vision for Peel. It consists of:

People's lives are improved in their time of need.

$1.3 billion (operating)
$0.2 billion (capital)

  • Community Investment
  • Early Years and Child Care
  • Housing Support
  • Income Support
  • Paramedics
  • Seniors Services

Integrated, safe, and complete communities.

$1.9 billion (operating)
$2.3 billion (capital)

  • Heritage, Arts and Culture
  • Land Use Planning
  • Public Health
  • Transportation
  • Waste Management
  • Water and Wastewater
  • Assessment Services (MPAC)
  • Conservation Authorities
  • Police

Government is future-oriented and accountable.

$0.2 million (operating)
$0.03 billion (capital)

  • Business Services
  • Information and Technology
  • Clerks
  • Real Property and Asset Management
  • Regional Chair and Council

2024 service enhancements

How we are sustaining current service levels and addressing increased service levels required by a population that's growing and aging by an average of more than 25,000 people a year.

Investing in Public Safety and well-being

Creating more affordable housing for residents

Advancing work to achieve a diverse and inclusive workplace and community

Enhancing community safety

Improving care for some of Peel's vulnerable residents

Investing in critical IT infrastructure and security

Investing in capital to maintain a state of good repair in Peel's infrastructure

Reducing green house gas emissions through strategic capital investments

Saving money through ongoing continuous improvement

Investing in capital infrastructure to build homes faster

How the Budget will affect Property Taxes and Utility Rates

The 2024 Budget includes a property tax increase of 4.5 percent which will contribute an annual increase to the typical residential property and commercial/industrial property tax bills of $245 and $432 respectively.

Additionally, the average home will see an increase to their utility bill of 21¢ per day (or $78 per year), while the average commercial/industrial property will see an increase of 22¢ per day (or $82 per year).

How the Budget increase will affect the average residential and commercial/industrial property

 

Average Residential

Average Commercial/Industrial

Property Tax Impact of 4.5% 1

$245

$432

Utility Rate Impact of 6.8% 2

$78

$82

Total Impact

$323

$514

Previous Regional Budget information.

Other information

Key timelines for the development of the 2024 Budget

Activity Council Approved Date
Bill 112 – Managing Through the Transition – Council Report June 8, 2023
Approach to the Development of the 2024 Budget – Council Report June 22, 2023
Peel Regional Police Presentations on Progress Report and Future Outlook June 22, 2023
2024 Fees and Charges Council Report December 7, 2023
2023 Overview and Update on the Status of Reserves – Council Report November 16, 2023
Improvements in Service Delivery – Council Report November 16, 2023

2024 Budget presentations

Activity Date
Regional Budget Corporate Overview Presentation November 16, 2023
Police Services Budget Presentations November 16, 2023
Regional Services Budget Presentations November 23, 2023
Conservation Authorities Budget Presentations November 30, 2023
Additional Budget deliberation December 7, 2023

The property tax bill has three components: cost of Regional services, cost of local municipal services, and cost of education. The following chart displays the breakdown of the three components affecting Peel's taxpayer. Of note, the education portion (residential only) of the combined tax bill has not increased for over 20 years.

The proportions vary between the local municipalities, depending on a number of factors including their relative share of total assessed market value by the Municipal Property Assessment Corporation (MPAC).

Where Your Tax Dollar Goes

The Region of Peel provides residents and businesses with essential services such as: running water, roads and traffic lights, police departments, waste services, affordable housing, immunization clinics, and so much more.

  • Peel Regional Police: 43¢
  • Housing Support: 12¢
  • Waste Management: 9¢
  • Transportation: 9¢
  • Paramedics: 6¢
  • Seniors Services: 4¢
  • Public Health: 3¢
  • Capital Allocation: 3¢
  • Conservation Authorities: 2¢
  • Business Services: 2¢
  • Income Support: 2¢
  • Early Years and Child Care: 1¢
  • Assessment Services: 1¢
  • Community Investment: 1¢
  • Information and Technology: 2¢
  • Real Property and Asset Management: 1¢
  • Heritage, Arts and Culture: < 1¢
  • Land Use Planning: < 1¢
  • Clerks: < 1¢
  • Regional Chair and Council: < 1¢

Presentations are prepared for Regional Council as part of the budget decision making process. The presentations include a corporate overview and presentations for both regionally controlled services and regionally financed external organizations. The presentations are available in two formats. They can be viewed as a consolidated package by department, or by each individual service. Our Public notice provides information on written submissions and virtual representations at Regional Council Budget meetings.

Key timelines for the approval of the 2024 Budget:

Presentations will be added as they become available.

November 16

November 23

November 30

1 Average home assessed at $580,400 and small business valued at $641,900.

2 Average residential consumption at 290m3 and average small business consumption at 695m3.

Questions, comments, or requests for information in an accessible format are welcome and can be emailed to us.

Related information