Matching tax increase to inflation likely tough road for London council
Published Wednesday, January 23, 2019 4:46PM EST
What looked like a fairly straight forward budget deliberation for the City of London may be about to get a little more complicated.
Ward 10 Councillor Paul Van Meerbergen, returning after a full term away from city hall, wants to get the tax increase down to the rate of inflation or below.
The inflation rate for December of 2018 was two per cent.
Van Meerbergen says he would like council to support a target of 1.8 or 1.9 per cent, but it could be a tough sell.
Right now the projected tax increase sits at 2.7 per cent, down from 2.9, so meeting Van Meerbergen’s target would mean finding several million dollars in savings.
Council meets Thursday to do the bulk of the heavy lifting for the 2019 city budget.