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2019 Annual Budget Update


City of London staff tabled the 2019 Annual Budget Update for the 2016-2019 Multi-Year Budget at Strategic Priorities and Policy Committee today. The draft budget proposes that property owners in London would see a tax rate increase in 2019 that would be lower than previously approved.

The 2019 Annual Budget Update includes 12 budget amendment cases (seven operating and five capital) with staff recommending 11 amendments and one being presented for Council’s consideration. With these amendments, the average annual increase from rates over the 2016-2019 multi-year period would decrease to 2.7% from the previously approved 2.8%. The average annual rate payer impact would decrease from $77 to $74 (based on the average rate payer owning a home with an assessed value of $221,000 in 2015).

Staff also presented ten budget amendment cases with the Water and Wastewater & Treatment budgets, all impacting the capital budget. The 2019 Annual Budget Update for Water and Wastewater & Treatment maintains the average annual impact on rates at 3% as previously approved with the 2016-2019 Multi-Year Budget. 

“The 2019 Budget Update is the final milestone in the 2016-2019 Multi-Year Budget process – the City’s first multi-year budget,” said Anna Lisa Barbon, the City’s Managing Director of Corporate Services and City Treasurer, Chief Financial Officer. “The 2019 Budget Update delivers a reduction to the average annual property tax levy increase approved by Council at the outset of 2016-2019 Multi-Year Budget process, while also providing the remaining funding required to implement Council’s 2015-2019 Strategic Plan.”

As part of the Multi-Year Budget process, annual updates are required by the Municipal Act, 2001 to review and readopt the budget for each individual year.

There are opportunities for Londoners to learn more about and comment on the 2019 Annual Budget Update and Multi-Year Budget process:

2019 Budget Open House
Wednesday January 9, 2019 from 6 pm – 8 pm
BMO Centre London, 295 Rectory Street

Public Participation Meeting
Thursday, January 17 at 4 pm
Council Chambers, 300 Dufferin Avenue

Municipal Council will review and approve the 2019 Annual Budget Update on the following dates:

2019 Budget Update Review
Thursday, January 24 at 9:30 am

and Monday, January 28 at 9:30 am (if needed)
Council Chambers, 300 Dufferin Avenue

2019 Budget Update Approval
Tuesday, February 12 at 4 pm
Council Chambers, 300 Dufferin Avenue

Stay in Touch!

Watch budget meetings live at london.ca/livestreaming
Tweet us at @CityofLdnOnt or #LdnBudget
Facebook: LondonCanada
Email budget@london.ca
Call Financial Planning & Policy at 519-661-4638

For more information on the 2019 budget update and the 2016-2019 Multi-Year Budget visit london.ca/budget