The 2024 Operating and Capital Budget for the City of Thunder Bay supports the 2023 – 2027 Maamawe, Growing Together Strategic Plan, fostering an inclusive city focused on service excellence, collaboration, and providing opportunities for a high quality of life.              

The City of Thunder Bay prioritizes accountability, transparency, and inclusiveness in its Budget process. The current budget has been designed to most effectively use the City’s financial, technological, and human resources to deliver key City services.

On February 12, 2024, City Council approved:

  • a tax and rate supported Operating Budget totalling $433.2 million, and
  • a tax and rate supported Capital Budget totalling $104.8 million.

What is the difference between "tax-supported" and "rate-supported"?
Tax-supported portions of the City budget are funded through property taxes and fund a variety of services that contribute the health, safety and quality of life of the city. The rate-supported portion of the budget is fully-funded by fees applied only to users of the service.

Operating Budget

49% of the operating budget is funded through the Municipal Tax Levy (the current year's total collected property taxes), while the other 51% is funded through a mix of grants, revenues and dividends.

The 2024 operating budget reflects an overall municipal tax levy increase of 5.91% made up of:

  • 3.35% increase for City Services
  • 1.68% Increase for Community Service Partners
  • 0.88% net increase to Capital

In 2024, for every dollar of property tax collected, $0.66 would go towards City Services, and $0.34 would go to Community Service Partners.

Capital Budget

For the 2024 Capital Budget, we are prioritizing the delivery of $1.25 billion in previously approved multi-year capital projects along with additions of $367.8 million. The 2024 capital expenditure budget of $782 million represents a 7% increase compared to 2023.

2024 Budget Summary

Read the proposed 2024 Executive Budget Summary.

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