The annual budget for the Township is conducted through a public process whereby staff presents the “draft” budget, for the various department, to Council for review and discussions. The consolidated budget includes an “Operating Budget”, a “Minor Capital Budget”, a “Major Capital” Budget, and Reserves.
Once all budgets are approved by Council, the Treasurer, prepares a consolidated Budget package, for Council’s approval by By-law.
Asset Management Plan
The Asset Management Plan (AMP) for the Township of Warwick complies with the requirements as outlined in the Provincial Building Together Guide for Municpal Asset Management Plans. It will serve as a strategic, tactical, and financial document, ensuring the management of municipal infrastructure follows sound asset management practices and principles, while optimizing available resources and establishing desired levels of service.
MPAC (Municipal Property Assessment Corporation) administers a uniform, province-wide property assessment system based on Current Value Assessment in accordance with the provisions of the Assessment Act. MPAC provides municipalities with a range of services, including the preparation of the annual assessment rolls that they use to calculate property taxes. As of today, MPAC is responsible for the assessment and classification of over 4.7 million properties in the province.
To establish your property’s assessed value, MPAC analyzes property sales in your community to determine the Current Market Value Assessment. When assessing a residential property, they look at all of the key features that affect market value. Five major factors usually account for 85% of the value:
- Lot dimensions;
- Living area;
- Age of the structure(s), adjusted for any major renovations or additions; and
- Quality of construction.
MPAC is also responsible for classifying and assessing other property types including Multi- Residential, Commercial, Industrial, Farm, Pipe line and Managed Forest.
If you have any questions regarding your assessment, MPAC can be contacted as follows:
Call: 1-866-296-MPAC (6722)
1-877-889-MPAC (6722) TTY
Monday – Friday 8 a.m. – 5 p.m.
Write: P.O. Box 9808
Toronto, ON M1S 5T9