An independent report conducted by Deloitte shows that dissolving the Region of Peel could come with a hefty price tag.

The report was created to assist the province in its assessment of the effectiveness of regional governments, specifically the Region of Peel.

In the report, Deloitte considered three scenarios: keeping the regional government as-is but with some efficiencies to save money, amalgamating the region making it once city, or dissolving the region making Brampton, Mississauga and Caledon their own cities.

Based on the report, finding efficiencies is the most cost-effective route over time. $261 million in potential savings over the next 10 years were found.

When it comes to amalgamation, an additional $676 million in taxes would need to be raised over 10 years compared to the status quo, with costs expected to rise after year 10 due to “the estimated impact of harmonizing wages amongst the Region and Locals.”

But dissolving the region would be the priciest move, requiring an additional $1.08 billion in annual tax revenues, due in large part to the need to duplicate regional services locally.

The consulting firm also assessed the recently updated Day & Day Report which was originally commissioned in 2003. Deloitte said the look at the region’s finances was “overly simplistic” and used “flawed methodology.”

It’s the same report that Mississauga’s Mayor Bonnie Crombie has been using to substantiate her claims that a split would result in $85 million in savings.

Two weeks ago Mississauga passed a motion to petition the province to allow them to remove themselves from the Region of Peel and to categorically reject any form of amalgamation.

“It’s always been my view that the [Region of Peel] is one of the best managed municipal governments in Ontario,” says Regional Councillor Paul Vicente. “The most prudent choice for taxpayers is for Mississauga, Brampton and Caledon to continue to realize efficiencies that are inherent by being part of the region.”

The report notes that dissolution of regional government isn’t a common occurrence, and should it occur, it would require significant considerations of the financial impacts and how to allocate assets and liabilities amongst the three cities.

Ultimately the decision to maintain the status quo, dissolve the region or amalgamate will be up to the Ford government. The province is expected to provide an update in the coming months.