Wednesday, November 27, 2024

Markham Adopts Budget 2025

MARKHAM, ON – November 27, 2024 – The City of Markham has adopted A Markham Milestone: Budget 2025, which was tabled by Mayor Frank Scarpitti on October 28, 2024. The tax rate increase of 3.88% means less than $55 for the average Markham home. Markham continues to have the lowest 20-year average property tax rate increase in the GTA.

“With Budget 2025, our city now has the lowest average tax rate increase in the GTA over the last 20 years,” said Markham Mayor Frank Scarpitti. “Our fiscal success is remarkable given that we continue to provide exceptional services for our residents and businesses. Budget 2025 keeps affordability in mind while making necessary infrastructure investments and maintaining our assets in a state of good repair.”

Markham’s Budget 2025 demonstrates Markham’s continued track record of lean, efficient and prudent fiscal management. This year’s budget continues Markham’s efforts to streamline service delivery. From 2009 to 2025, the City’s Excellence through Efficiency and Effectiveness (E3) Program will have delivered $36.8M in annual operating savings, equal to a tax rate increase avoidance of 28.8%. Along with the top municipal ranking for budget transparency (A-) from the C.D. Howe Institute, the City of Markham has received several other recognition for its budget and financial management process, including:

Canadian Award for Financial Reporting, Government Finance Officers Association (since 2001)
Distinguished Budget Presentation Award, Government Finance Officers Association (since 2000)
Platinum Award for A Strong Markham: 2024 Budget Book, Hermes Creative Awards
Financial Information Return Recognition Award, Government of Ontario

Mayor Frank Scarpitti and members of Markham Council on October 28, 2024. (from left to right: Ward 1 Councillor Keith Irish; Ward 2 Councillor Ritch Lau; Ward 3 Councillor Reid McAlpine; Ward 4 Councillor Karen Rea; Mayor Frank Scarpitti; Regional Councillor Jim Jones; Ward 5 Councillor Andrew Keyes; Ward 6 Councillor Amanda Yeung Collucci; Ward 7 Councillor Juanita Nathan; Ward 8 Councillor Isa Lee)

— 30 —

Markham Mayor Frank Scarpitti's Office:
At mayorscarpitti@markham.ca.

All other media inquiries / interview requests for the City of Markham:
media@markham.ca.

About Markham: Markham, an award-winning municipality with over 362,000 residents and the largest of nine communities in York Region, is home to over 650 corporate head offices and more than 1,500 high tech and life science companies. Markham is a leader in attracting foreign direct investment with more than 234 foreign companies located in the City. Founded in the 1790s, today Markham is Canada’s most diverse community and enjoys a rich heritage, outstanding community planning and services, and a vibrant local economy.

Stay Connected: Visit our newsroom or search #MarkhamNews and #MarkhamEvents for the latest information on City programs, services and events.