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The City of Peterborough has released its Draft 2026 Budget, outlining a proposed 7.43 per cent all-inclusive rate increase that would cost the average homeowner about $32.03 more per month.
City council received the draft during a General Committee meeting on Monday. The proposed increase includes a 2.93 per cent rise in the operating budget to maintain current service levels, a 2.18 per cent increase for capital and infrastructure, a 0.53 per cent sanitary sewer fee increase, and 1.79 per cent for external agencies supported by the City.
The budget proposes $433.7 million in spending on municipal services and $140.5 million in capital projects in 2026. Of that, $232.7 million would come from non-tax revenues such as user fees, grants and investments, leaving $201 million to be raised through property taxes.
Major capital projects include the renovation and expansion of the police station, upgrades to Lansdowne Street West, revitalization of the Wastewater Treatment Plant, airport taxiway extensions, new transit buses, road resurfacing and improvements to water service infrastructure.
After the draft was printed, the City received updated information showing a $665,000 reduction in employee benefits costs and an additional $269,000 from the Ontario Municipal Partnership Fund, which has been factored into the current rate proposals.
Residents will have several opportunities to review the budget and speak with staff, beginning with a public information session on Nov. 5 from 6 p.m. to 7:30 p.m. at Healthy Planet Arena.
Council will hear budget requests from local boards and agencies on November 10th at 3 p.m., followed by an informal drop-in from 4:45 to 5:45 p.m. at City Hall. Registered delegations can speak at a 6 p.m. meeting the same evening.
Council is scheduled to debate the budget November 17th and 18th. Mayor Jeff Leal is expected to table the final 2026 budget on December 8th, with adoption anticipated the same day. Public delegations will be permitted at that meeting.
The draft budget is available at peterborough.ca/budget.
