Skip to main content

St. Thomas council sets 2024 property tax rate

(CTV News file photo) (CTV News file photo)

The city of St. Thomas has set its tax rate for the coming year — and the mayor feels the city is an enviable position.

"Using a little bit of reserve funds, a little bit of moving things around we came in at just under 3, at 2.98 [per cent],” said Joe Preston.

The tax rate was set on Monday night.

City council started the evening looking at a 3.5 per cent bump, but managed to bring it down.

Preston said with the rate of inflation and ongoing social pressures, including the need for more affordable housing, is making it difficult for municipalities to keep taxes low.

According to Preston, council was able to do that and keep top growth projects on the books.

He notes that tax revenues from the PowerCo battery plant won't kick in for another two years, which will also benefit the community. Top Stories


opinion 5 reasons not to invest in mutual funds

Traditionally, mutual funds have stood as a go-to investment strategy for those looking to grow their wealth without the effort of stock-picking. But financial columnist Christopher Liew outlines some reasons why mutual funds often aren’t the golden ticket they're made out to be, especially in Canada.

Stay Connected