York Regional Council approves $3.96 billion budget for 2023 plus a three-year outlook

Newmarket – York Regional Council approved a $3.96 billion budget for 2023, the first of a multi-year budget to align with the current term of Council. In addition to a 2.9% tax increase for this year, the budget outlook for the remaining three years of the 2023 to 2026 term of office was endorsed.

As part of the 2023 budget deliberations, Regional Council reconfirmed its commitment to add an additional 1% to the tax levy to help fund the Region’s $1.12 billion portion of the Yonge North Subway Extension.

“This budget represents sound financial management and support for the Region's Strategic Plan priorities,” said York Region Chairman and CEO Wayne Emmerson. “Regional Council is committed to strong, caring, safe communities as realized through four areas of focus: economic vitality, healthy communities, sustainable environment and good government. We’ve faced some strong economic challenges with the cost of inflation and continued COVID-19 recovery, and this budget is strong enough to see us through.”

The 2023 budget includes $3.06 billion in operating costs and $894 million in capital spending, part of a 10-year capital plan of almost $10 billion in spending.

Together, the levies add approximately $105 to the average residential property bill.

The budget also includes a key initiative introduced at the February 9, 2023 Committee of the Whole meeting to invest $12.8 million annually for the next four years to address critical issues related to housing, homelessness, mental health and community investments.

The operating budget focuses on day-to-day expenses and providing funding for asset rehabilitation and replacement, while the capital budget covers major infrastructure requirements. These budgets outline how York Region will use its finances to deliver essential services to our residents.

York Region’s strong financial position is bolstered by a multi-year budget process to coincide with Council’s term of office. The endorsed outlook and tax levy increase for the remaining term of Council includes:

“Preparing a multi-year budget helps align projects with the Region’s four-year Strategic Plan and provides greater clarity regarding programs and associated funding in future years,” said Township of King Mayor Steve Pellegrini, Chair of Finance and Administration. “The associated Fiscal Strategy helps the Region keep growth affordable while ensuring existing infrastructure is well maintained.”

The 2023 budget supports the activities identified in York Region’s Strategic Plan, which was also approved by Regional Council. Examples of services to be delivered in 2023 include:

Additional information regarding the 2023 budget can be found in the following documents:

• Backgrounder: Council approves additional funding to support critical social infrastructure
• Backgrounder: Operating Budget
• Backgrounder: Capital Budget
• Backgrounder: Fiscal Strategy
• Budget Infographic
• Addressing Community Challenges infographic

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Media Contact:

Barbara Schnier, Corporate Communications, The Regional Municipality of York
1-877-464-9675, ext. 71237 Cell: 905-505-5775
@email