City council and the mayors office are planning a tax hike on Londoners. Londoners are expected to pay $76 more in property tax. The final motion is expected to be put forward on February 12.
The average homeowner in London faces 2.7% increase in property taxes. While mayor Ed Holder was in Ottawa meeting with the Prime Minister, city council pushed a proposal that would decide whether Londoners would have to pay an increase of 2.7% on taxes. Anna Lisa Barbon, the city’s Managing Director and Chief Financial Director, says that the strategic plan will give the city direction.
“It determines what number city council wanted to come at, so because this is here doesn’t mean that’s the number council is going to stay at,” she also says that the increase will give the city flexibility.
Anna Lisa Barbon also said that at the end of the day everyone is paying the same amount, “This is the average across all tax payers, the next step that council will do will be coming around in April. Council sets the policy for the city of London and based on that is how they shift the incremental burden across the classes.”
Barbon also adds that through the tax policy that the city approved the actual cost for a residential tax payer was significantly lower.
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