Today, the City of Mississauga’s Budget Committee received the 2012 Budget overview focused on preserving existing City services, finding efficiencies and delivering some modest service enhancements.

The proposed City Budget combined with the proposed Region of Peel budget will result in a 2.8 per cent increase on the total residential property tax bill and 1.5 per cent increase on the total commercial property tax bill.

The City’s Budget, which represents 29 per cent of a resident’s tax bill or 16 per cent of a business’ tax bill, includes a 4.2 per cent increase to maintain current service levels and a 2 per cent infrastructure and debt financing levy to fund the capital program. City Staff identified $3.4 million in cost savings and efficiencies and recommended some tax reduction options.

The operating budget also includes $4.1 million in new initiatives such as transit growth, actions related to implementation of the environmental master plan and better maintenance of the City’s street trees.

Budget Committee will make final decisions regarding the 2012 Budget in the new year following budget presentations from each service area. The 2012 Budget Overview presentation can be viewed here.

In addition, the Committee referred the corporate report on the Communications Market Research Program to the detailed service area budget reviews scheduled for January.

All Budget Committee meetings are open to the public. The full schedule of meetings is posted on the City’s website at www.mississauga.ca/portal/cityhall/calendar.

As Canada's sixth largest city, Mississauga is home to 734,000 residents and 55,000 businesses, including 63 Fortune 500 companies with Canadian head offices or major divisional head offices. A diverse, progressive and award-winning municipality located on the shores of Lake Ontario in the heart of the Greater Toronto Area, Mississauga is "Leading Today for Tomorrow" by focussing on delivering services, implementing its Strategic Plan, delivering value for money, maintaining infrastructure and continuing to be an employer of choice.

2012 Budget Overview Presentation