Nicole Butz
News Reporter
After city hall declined the parking fine increase last week, the city may need to be ready for the 4.8 per cent tax increase to jump. This is just one battle city hall will be looking at as they have a look at the budget today. The decline in parking fine increases and the reduction in parking fees could cost the city $4 million in revenue for the year. With $7 million in unfunded projects they could be seeing the increase in property taxes back to 6 per cent. Finance committee chair, Ald. Gord Lowe said the money would have to come from the rest of the operating budget or from an increase in property taxes. Also, if approved, the city will also need to withdraw $13.7 million of its fiscal sustainability reserve to keep the tax increase lowered.
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