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Tired of climbing property taxes? So are these city councillors
![London City Hall An undated image of London City Hall. (File)](/content/dam/ctvnews/en/images/2024/1/8/london-city-hall-1-6716966-1713920323783.jpg)
Two city councillors say London should dip into reserve funds to offset future property tax increases.
Next week, Councillors Corrine Rahman and Jerry Pribil will suggest taking 3-million dollars from the reserve fund to offset tax increases over the next three years.
Mayor Josh Morgan said the money is council's to spend, but warned using one-time dollars to cover on-going expenses would create a million dollar budget gap in 2028. “It certainly doesn't have a sustainable path for beyond that, where I focus my work in the preparation for the budget is working closely with staff on the service review side of things, where we know we can find permanent long-term savings that are much greater than a million dollars.”
London is currently projecting an average increase of 7.5 per cent each of the next three years.
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