On May 18, Council approved the 2023 tax rates and ratios for the City of Kenora. The 2023 Capital Budget was approved on February 15, 2023, and the Operating Budget on March 22, 2023.
The 2023 approved budget represents a 4.88% increase in the City’s residential municipal tax rate.
For an average property assessed at a median amount of $192,000, this means a monthly increase of approximately $9.74 over 2022. The 2023 municipal budget includes no change in municipal services and a substantial investment in hard infrastructure.
To Overall financial highlights of the approved 2023 budget include:
- $60 million in combined operating, capital, and reserve appropriations, broken out as follows:
- $41.9 million in operating expenses
- $1.5 million in reserve appropriations
- $16.6 million in capital expenses (an increase of $4.6 million from 2022)
- $30.1 million in net tax levy requirement generated through property taxes
The 2023 five year capital budget includes:
- $16.6 million 2023 investment in hard infrastructure (not including sewer, water, or solid waste projects which are captured in separate budgets)
- Over $70.5 million investment in hard infrastructure across all five years
- Over $4.2 million invested North of the bypass and in our rural roads
- Over $9 million through acquired grant funding in 2023 stretching our municipal dollars even further
- $17.45 million invested in bridge infrastructure across all five years
The Municipal Property Assessment Corporation (MPAC) postponed the 2020 assessments and will base 2023 property tax assessments on the January 1, 2016 current values, unless there have been changes to your property.