As the budget process heads into the home stretch, it seems that the city has found some extra change in the couch cushions, at least enough to knock down the expected tax burden by about one per cent. As it stands now, the tax increase for 2014 is expected to be 2.37 per cent as opposed to the previously reported 3.36 per cent.
The cut comes courtesy of new figures from the Municipal Property Assessment Corporation (MPAC) and the County of Wellington, and despite the fact that the total operating budget is now $400,000 more than the initial estimate released on November 5th. That's good news for city hall deficit hawks, and good news for the average tax payer, but will all parties be satisfied with an increase that's still more than a full point more than the cost of inflation?
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