Can we really promise to keep property tax increases at inflation?

Can we really promise to keep property tax increases at inflation when we don't yet know the full extent of Wilmot's financial challenges?

Mayoral candidate Wilkinson has stated in his debates that he is proposing to limit annual property tax increases to inflation or inflation plus 1%.

I want lower taxes. I think we all do. Many people are struggling. But before making a commitment, we need to understand what it would actually take to achieve it.

Wilmot is facing some serious financial challenges:

• A $19 million infrastructure backlog identified in the Township's 2022 Asset Management Plan.

• Approximately $12.6 million in estimated annual infrastructure renewal needs.

• A warning in the Township's 2025 budget documents that infrastructure replacement costs could be underestimated by 50% to 200%.

• An additional $4.8 million in borrowing planned for 2026.

• A long-term financial plan was supposed to be released in 2026 with the budget but is now not scheduled until 2027. 

• Our last audited financial statement was from 2023 (Muncipal Act says it has to be done annually).

The 2026 budget also included a 2.6% staff cost-of-living adjustment. Council approved compensation increases for the incoming Council term and reorganized senior administration, including the Deputy CAO position.

None of these financial pressures disappear simply because we set a limit on tax increases.

We actually got into this problem because our taxes were set too low for years.

We need to protect households struggling to make ends meet. But we also need to understand what happens to our roads, bridges, services,  and debt obligations if we limit increases without a plan to address our financial challenges.

Will we reduce services, delay infrastructure repairs, borrow more, or find alternative ways to fund what we need?

A tax target is not the same as a financial plan.

I believe we need clear financial reporting, realistic 10-year planning and a thorough review of spending and alternative solutions before making commitments we may not be able to sustain.

What do you think? Is it realistic to commit to inflation-based tax increases before Wilmot's long-term financial plan is complete?