Tax increase of 6 per cent possible, says CAO, unless money found by trimming budget costs

CAO Ron Taylor made it clear to council that local citizens could face tax increases of more than six per cent for the 2024 fiscal year – unless city departments can find significant savings.

Such savings might come from programs and services being altered, shelved or reprioritized, according to the CAO. Taylor said the city is looking at a $2 million shortfall in funding, largely driven by inflation causing up to “double-digit cost increases.”

Taylor believes that just to pay for the services the city now has it would require a 4.5 per cent increase for 2024. But when added to the capital levy of 1.5 per cent approved last year by council to ensure city infrastructure and assets are taken care of, the total municipal tax increase could come in at more than 6 per cent.