Tired of climbing property taxes? So are these city councillors

An undated image of London City Hall. (File)

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.