Devon's annual Operating Budget is an estimate of the revenues and expenditures required to fulfill the operational needs of the Town over the next year. Near the end of the year, Administration and Council work together through budget deliberations to chart out the budget for the next year and ensure service levels are maintained or adjusted as per Council's direction.
Final Operating Budgets are generally presented to Council at their December Regular Council Meeting to ensure the budget is ready to implemented on January 1 of the upcoming year.
Devon Town Council has approved the 2023 Operating & Capital Budgets and the Three-Year Recovery and Service Stabilization Plan at their Dec. 12 Council Meeting with a 5.67 per cent municipal tax increase for 2023.
For a household with a median assessed value of $322,000, the estimated impact of a 5.67 per cent tax increase is about $113.15 per year or $9.43 per month. Property assessments are based on the market value of a property as of July 1 of the previous year and as such, these are estimated impacts.
2023 Capital Budget highlights