IMF Executive Board Concludes 2021 Article IV Consultation with Republic of Estonia miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
City council has adopted the recommendation of administration when it comes to the Tax Policy Report.
Director of Revenue for the city, Kathleen Cannon and her team made the push ahead of Monday’s council meeting to go with the first choice, which she said is more in line with the long term tax strategy ratified by council in 2019.
The strategy looked at reducing tax ratios for multi-residential, commercial and large industrial classes, while enhancing long term financial stability in effort to achieve greater fairness and relative competitiveness overall.
Cannon noted for 2021, the Municipal Property Assessment Corporation, (MPAC) re-assessment was postponed which means if your property is worth $200,000 in 2021 it will be worth the same amount in 2022.
Thunder Bay city administration projecting budget surplus of $3M cbc.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbc.ca Daily Mail and Mail on Sunday newspapers.
The levy for the Thunder Bay District Social Services Administration Board is $167,800 lower than expected
Council reduced the hit to the stabilization reserve fund by $1,534,200 to fund the $8.7 million COVID impact (that includes recognizing $1.24 million in 2021 Safe Restart funding)
Insurance costs are $234,400 less than estimated
$138,400 increase for Canada Pension Plan/Employment Insurance costs
$149,400 in reduced debenture interest, MPAC levy, Community Youth & Culture Funding Program ongoing
$30,000 removed for Victoriaville budget for duct cleaning
$15,000 addition to each organization: Thunder Bay and Area Food Strategy, Poverty Reduction Strategy and Age Friendly Thunder Bay
$30,000 reduction in Victoria Avenue BIA contribution
$67,900 removal of proposed transit fee increases
The final night of public deputations led to one councillor being ruled out of order.
Council received feedback on the budget Thursday, but it was the first one from Henry Wojack that gave way to chair Mark Bentz putting his foot down with fellow At Large Councillor Aldo Ruberto.
Wojack’s presentation focused on a few topics, which included reducing the municipal tax levy increase by 0.65%. He also wanted to discuss the Police Services Board which gave way to Aldo Ruberto to asking whether Wojack had done research on the number of incidents that local police deal with as compared to municipalities of a similar size.