One-cent tax hike to help fund future projects
Posted Jul 30, 2014 07:14:46 AM.
This article is more than 5 years old.
Regional councillors approved a plan last night to put money aside for large scale projects in the municipality.
After a lengthy debate, council decided to earmark money for proposed projects like a stadium, new police station and commuter rail over the next 10-15 years.
The plan would see surplus lands within the city sold, an increase in the amount of debt financing projects can take on, and add a penny to the tax rate for residents.
The tax increase, which will be looked at during spring budget deliberations, would add $25 a year to the average tax bill.
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