Budget

Richmond Hill's annual budget is made up of the following: Operating Budget; Capital Budget; and Water, Wastewater and Stormwater Budget. Learn more about how tax dollars are spent on the My City at Work page.

Capital Budget

Richmond Hill's Capital Budget outlines the financial needs for growth and maintenance of existing infrastructure, such as community centres, fire stations, pools, parks, trails, arenas, roads and sidewalks. Visit our capital projects page to learn more about current projects.

The Capital Budget is funded through Richmond Hill's reserve funds, development charges and grants. The 2023 Capital Budget was considered at the January 24 Budget Committee of the Whole meeting. News release: Richmond Hill to Invest $84 million in the Community

Council approved the 2023 Capital Budget at the February 8, 2023 Council Meeting.

2023 Draft Capital Budget

2023 Capital Budget and Forecast

Operating Budget

Richmond Hill's Operating Budget covers the costs of everyday operations and activities, including utilities, rent, insurance, staff wages and benefits, program supplies, transportation and repairs.

2023 Operating Budget

The 2023 Operating Budget was considered at the February 7 and 14 Budget Committee of the Whole meetings and approved at the February 22, 2023 Council meeting. News Release: Richmond Hill Council Approves 2023 Operating Budget

Draft Operating Budget Documents

Funds for the Operating Budget come from taxes, fees and other items, such as program registrations. Richmond Hill collects taxes on behalf of York Region and the Province of Ontario for education.

The Operating Budget also determines the annual tax rate. Council approves the tax rate. For information on past budget processes, please visit the Past Budgets page.

Senior Tax Assistance Grant

Richmond Hill offers a Seniors' Tax Assistance Grant for eligible residents. The grant is $419 in 2023.

To qualify for the Senior Tax Assistance Grant, seniors must be 65 years of age or older and apply each year, occupy their residential property in Richmond Hill, be the assessed owner (or spouse of the owner) of the property for at least one year immediately preceding the date of the application and receive the Guaranteed Income Supplement as provided under the Old Age Security Program. Learn more and apply for the Senior Tax Assistance Grant.

If you require a budget document in an alternate format, please call Financial Services at 905-747-6454.

Learn how Richmond Hill's budget works:

Capital Asset Sustainability Fee

Using Capital Asset Sustainability funds to Repair and Maintain Richmond Hill Infrastructure

Richmond Hill is responsible for the repair and maintenance of roads, community centres, trails, watermains and more. The funding for this comes in part from a fee that is added to property tax bills.

Prior to 2019, the Capital Asset Sustainability Fee was applied as a flat fee to all tax accounts in Richmond Hill. In 2019, the fee transitioned to a levy on each property, based on a percentage of the Phased-In Assessment Value of a property as determined by the Municipal Property Assessment Corporation (MPAC).

Administering the levy based on property values is a more equitable approach to infrastructure funding.

Comparable GTA municipalities including Markham, Newmarket, Aurora, Mississauga, Brampton and Burlington use this approach for infrastructure funding and debt repayment.

Why do we need a Capital Asset Sustainability Levy?

The Capital Asset Sustainability Levy is needed to ensure the municipality has the funds to repair and maintain infrastructure such as roads, parks and buildings. Richmond Hill has $1.85 billion in infrastructure assets that need to be maintained for the safe use of residents.

As the City continues to grow and develop, more funds will be needed to build and maintain our infrastructure.

Similar to other municipalities, Richmond Hill is facing the challenge of the infrastructure funding gap – the difference between the funding needed to keep assets in a state of good repair and the funding available.

History of Richmond Hill’s Capital Asset Sustainability Fee

Council adopted the Capital Asset Sustainability Strategy in 2015, gradually moving the City towards a Pay As You Go funding approach to support the repair and replacement of capital assets. The two-part approach includes the introduction of the Capital Asset Sustainability Fee to increase available funds and the careful prioritization of capital project priorities.

From 2016 to 2018, the adoption of the Capital Asset Sustainability Strategy resulted in a flat rate fee, where all property owners pay the same fee. In 2019, the Capital Asset Sustainability Fee changed to a Capital Asset Sustainability Levy. The levy is based on the Phased-In Assessment Value of a property as determined by MPAC and the rate Council sets each year.

The levy will raise the same amount of funds as the fee; however, there will be changes in the amount payable among residents and business owners.

How much will the Capital Asset Sustainability Levy be?

Council will set the overall amount to be collected through the levy during the Budget process. The levy will appear on the Final Tax Bills, which are mailed to residents in June.

Taxes

Richmond Hill collects taxes on behalf of York Region and the Province of Ontario for education. Only about one quarter of your tax bill pays for Richmond Hill services. Tax amounts are approximate and updated once York Region and the Province of Ontario approve their final tax rates each year.

Richmond Hill receives about $0.26 for every dollar of municipal taxes collected from a residential homeowner. We receive about $0.13 for every dollar of commercial taxes collected.

For more information, please view our property tax page.

Property assessments

The Municipal Property Assessment Corporation (MPAC) completes property assessments in Ontario. Every municipality uses these assessments to apply local tax rates on your tax bill.

Richmond Hill's Finance department is responsible for calculating, consolidating, billing and collecting municipal taxes from property owners in Richmond Hill. This includes residential and non-residential property owners.

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