Property taxes in Sarnia, Ont., will go up 1.8 per cent in 2010, according to the new budget set by city councillors at a meeting Tuesday night.
The $132-million budget also includes a one-time one per cent levy to complete capital projects worth $20.4 million.
Overall, “it’s a restraint budget” that cuts services “in very subtle ways,” said Coun. Mike Kelch.
“I don’t think it’s really going to [have an] impact,” Kelch said. “I don’t think people will say ‘Oh, I really notice that.’”
The property tax increase will translate to $15 for a home assessed at $100,000, the budget said.
That’s “a very modest tax increase,” Mayor Mike Bradley said, adding it will help pay for “a massive infrastructure investment in the community” in 2008 and 2009.
“So that in turn creates jobs, renews the community and gives us a real strong way to exit the recession,” Bradley said.
The city released its 228-page draft budget on Oct. 26. It proposed a property tax hike of 2.75 per cent, which was whittled down to 1.8 per cent during a series of discussions that ended Tuesday night.
Sarnia’s transit department will see its own increase, as the cost of a bus ride jumps to $2.25 from $2.00.
http://www.cbc.ca/canada/windsor/story/2009/12/02/sarnia-2010-property-tax-091202.html#ixzz0ig5iN9Pr
Property Tax Assessments to be Mailed Soon
Furnace Prices Winnipeg
www.crossfireconsulting.net
Related Websites - Customizing a Budget It is a good idea for you to put together your own unique budget work sheet when it comes to getting started in setting up a budget for your household. Make sure that the categories...
- Buying a House as a Tax Shelter [in a Depreciating Market] Does it make sense to buy a house for the tax advantages? Apparently quite a lot of people think so. check out the comments on Renting is for suckers". There are over a hundred comments....
- IRA Contribution Income Limits Should Be Based on Tax Rates Someone who makes $107,000 in 2011 is allowed to contribute $5,000 to their IRA. However, the contribution income limits don't change much from year to year and I think it leaves out one very important...
- Tax Consequences of Student Loans For the last installment of the Student Loan Series, we're going to be talking about the tax consequences of student loans. Previously we covered whether college is worth the cost, the different types of student...
- Bank of Canada lowers economic outlook By Guy W. Close - The Bank of Canada now says it was wrong about how strongly the Canadian economy has been recovering and has changed its tune on raising...