Markham adopts 2024 budget with 2.99 per cent tax increase

MARKHAM, ONT. — The City of Markham has adopted its 2024 budget with a 2.99 per cent tax increase equating to an increase of roughly $40 for the average Markham household.

Presented by Mayor Frank Scarpitti on Jan. 29, the budget had input from staff, council and the community after a public meeting on Feb. 15.

With the property tax rate increase of 2.99 per cent, Markham continues to have the lowest average tax rate increase in the GTA over 19 consecutive years.

Scarpitti said the budget is strong and responsible.

“We are proud of our fiscal management; Budget 2024 keeps affordability in mind and introduces a new seniors tax relief program.”

On the premise of delivering excellent services, Budget 2024 also focuses on investing in new infrastructure, as well as maintaining the assets in a state of good repair.

2024 Budget Highlights

Markham will have a $281.4-million primary operating budget. It is primarily funded through property taxes and supports general day-to-day operations and service delivery.
$118.3 million in capital funding to deliver 271 projects supporting a wide array of City programs and services.
$43.8 million of the capital budget relates to new infrastructure to service Markham’s growing communities. This includes projects such as new road widening and construction, parks, trails, green spaces and pedestrian crossings and traffic signals.
$74.5 million is to keep the existing community infrastructure in a good state of repair. This includes projects to repair and refurbish existing roads, recreation, library and cultural facilities and amenities and improve stormwater infrastructure.

For more details about the budget, visit markham.ca/Budget.