County Holds the Line on Tax Increase
County taxes for 2020 are a bigger problem than usual. The Province has reduced the amount of money they plan to transfer to Municipalities and the County estimates that they will need to find an extra $1.4M in revenue because of that. That would mean an additional 2.5% increase in the levy. Inflation for capital projects is best measured by the Non-residential Construction Price Index which is currently running at more than 5% – that is, higher than CPI (1.9% excluding gas). So because of inflation, the total operating and capital budget would require a 2.8% increase in the levy. However, staff plan to find efficiencies of 1% so the planned net increase in the total budget (because of inflation)… Read complete articleCounty Holds the Line on Tax Increase