Media Release: Township of Lake of Bays Approves Final 2024 Municipal Budget

(Lake of Bays, ON) On February 13th, 2024, the Corporation of the Township of Lake of Bays approved its 2024 Operating and Capital Budget. The 2024 budget contains a 9.06% tax rate increase over 2023, but due to the Township having the 2nd lowest residential tax rate in all of Muskoka, the estimated tax increase to a residential property valued at $300,000 will only be $52.77 per year or $4.40 per month for those who pay their property taxes monthly.

Council and staff engaged in deliberations over a two-day period, considering numerous requests from the community. Their aim was to strike a balance that ensures the maintenance of services, keeps Township roads and infrastructure in good repair, and maintains reasonable property taxes, all while remaining fiscally responsible over the long term.

Council was committed to adopting a budget that was transparent, accountable and easy to understand, as well as affordable, strategic, and met the objectives of the Township of Lake of Bays and its Asset Management Plan.

The 2024 budget addresses many current economic and environmental issues such as housing, climate change, community improvement and economic development. These initiatives are implemented both in stand-alone projects and those that will be undertaken in conjunction with the District Municipality of Muskoka.

Supply chain issues, COVID-19 recovery, inflation, and disruptions in Eastern Europe and the Eastern coast of the Mediterranean Sea continue to have a global economic impact on local economies such as here in the Township of Lake of Bays.

Some of the more noteworthy initiatives that the Township will undertake in 2024 include:

• Commit $400,000 toward the future expansion and renovation of the Lake of Bays Public Library (Dwight Branch).
• In conjunction with a donation from the estate of local seasonal residents, Install a splash pad, new children's playground equipment, and pickleball courts at the Lake of Bays Arena and Community Centre in Baysville.
• Dedicate $30,000 to be used towards Climate Change Initiatives.
• Install new computer software to allow for credit card processing of all payments to the Township.
• Undertake large-scale culvert replacements on Pine Ridge Road and North Ril Lake Road.
• Replace a 2014 Tandem Snow Plow.
• Complete Phase 2 of the Ice Plant Conversion Program at the Lake of Bays Arena and Community Centre.
• Hire a second By-law Enforcement Officer.
• Update the Township's Official Plan.
• Install coin-operated drinking water dispensaries at the Township Fire Stations.
• Complete a Roads Needs Study (every 5 years).
• Increase the Township's support to Dorset Health Hub to approximately $32,000 per year.
• Undertake Gravel Resurfacing on Austin Lane, Hammond Road, Lake of Bays Lane, Mary Roberts Road, McArthur Point Road, North Tooke Lake Road, and Osbourne Point Road.
• Undertake High Float Resurfacing on Point Ideal Road.
• Undertake Slurry Seal Resurfacing on Millar Hill Road, Tally-Ho Winter Park Road, and a portion of Hillside Crescent.
• Complete Micro Seal Resurfacing on Dwight Bay Road and portions of Dwight Beach Road and Charlie Thompson Road.
• Purchase a new fire rescue pumper truck for the Baysville Fire Station.
• Purchase fire suppression equipment to be placed on Bigwin Island.
• Install a new Columbarium at the Paint Lake Pioneer Cemetery.
• Complete the renovation of the 'upstairs' community centre area of the Lake of Bays Arena and Community Centre in Baysville (re OPERATION FACELIFT).
• Create grant program(s) to promote business development, expansion, and job creation in the Township of Lake of Bays (re the Community Improvement Plan).
• Undertake a Development Charges Study.
• Replace the cover on the Salt Dome at the Lake of Bays Public Works Yard in Dwight.

For more information and to view the full Approved 2024 Municipal Budget, visit lakeofbays.on.ca/budget.

-30-

Media Contact:
Patricia Allen – Director of Finance
Township of Lake of Bays
pallen@lakeofbays.on.ca
705-635-2272 ext. 1233