It could be worse: London’s budget chair predicts 2023 property tax increase
London’s property tax rate increase is predicted to be well below the rate of inflation this year.
“Likely to come in around 2.9, 3.0, or 3.1 [percent], we'll see,” Coun. Elizabeth Peloza told CTV News London. “There are staff recommended reductions we can take, and things we need to put in.”
An increase in that range would add $92 to $98 on the property tax bill for the average London home valued at $241,000 in 2019.
Peloza will chair budget deliberations, and anticipates the new city council will require both Thursday and Friday to complete the 2023 budget update to London’s four-year municipal budget.
There are a total of 18 budget amendments that council will consider:
Recommended by staff:
- Budget savings found by municipal departments (- $6,581,000)
- Ontario Works - reduction in required investments (- $1,030,000)
- Roadmap to 3,000 affordable units – portable benefits & staff (+ $1,794,000)
- Youth opportunity unlimited core street cleaning (+ $200,000)
- Cybersecurity infrastructure at city hall (+ $1,009,000)
- 1001 inventions exhibit (reserve funds)
- Land ambulance – additional resources (assessment growth funds)
- Changes to transportation capital growth project budgets (capital budget funds)
- Regeneration of public housing (future debt)
Additional for consideration:
- Reduction to streetlights, winter maintenance, and walkway maintenance (- $936,000)
- Reduction in horticulture aesthetics (- $200,000)
- Reduction to Neighbourhood Playground Program locations (- $250,000)
- Eliminate printing of council agenda materials (- $8,000)
- Humane Society of London & Middlesex Animal Campus ($3,000,000 reserve funds)
- Increase to Neighbourhood Decision Making Program (+ $250,000)
- Funding for the Hamilton Road BIA (+ $100,000)
- Reduction to previously approved infrastructure gap contribution (- $950,000)
- Streetscape master plan for Argyle BIA (reserve fund)
Tax rate increase versus dollar value
- 3.9% — $122 (No amendments)
- 3.2% — $100 (Staff amendments)
- 2.9% — $92 (All amendments)
The budget update will be finalized on Feb. 14.
Peloza added that the four-year budget process has provided financial flexibility to city hall during uncertain economic times.
“It gives us the opportunity to pull things forward or push them back as other government funding becomes available," she said.
CTVNews.ca Top Stories
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
AFN chief says Air Canada offered a 15% discount after her headdress was mishandled
After the Assembly of First Nations' national chief complained to Air Canada about how staffers treated her and her ceremonial headdress on a flight this week, she says the airline responded by offering a 15 per cent discount on her next flight.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
76ers All-Star centre Joel Embiid says he has Bell's palsy
Philadelphia 76ers All-Star centre Joel Embiid has been diagnosed with Bell’s palsy, a form of facial paralysis he says has affected him since before the play-in tournament.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.