Understand Markham's Budget and Stay Informed!
In the wake of 30-year highs in inflation, a looming recession, and unprecedented legislative changes, staff had initiated a preliminary assessment and from that recommended a tax rate increase of 6.4% at the start of the 2023 Budget Committee process. After thorough discussions and review, Council approved a 2023 tax increase of 3.00%. It is comprised of a 2.4% tax rate increase for day-to-day operations and a 0.6% infrastructure investment to set aside money now for future asset replacements.
This budget is fiscally responsible, addresses the diverse needs of our growing community and makes prudent investments in infrastructure to keep our assets in a state of good repair. The budget preserves our high quality of facilities and services to ensure Markham continues to be a vibrant, successful and sustainable City.