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2014 budget related property tax increase lower than expected

May 1, 2014 -

City staff is recommending that the 2014 municipal property tax rate increase be lowered from the 2.5% established at budget time to 2.13% as a result of higher than expected assessment growth.

"The final analysis of assessment growth for 2014 is well above initial projections. Healthy growth is reflective of the various strategies and initiatives that support Council's priority to enable economic development," says Desirée Kennedy, City Treasurer.

The recommendation is contained in Council Report 14-128, which is going to Council on May 6 to obtain Council approval for final tax rates for 2014.

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Media contact: For more information contact Cindie Ashton, Media Relations Officer, 613-546-4291, ext. 3116 (cell 613-329-3462). Or call Communications at 613-546-4291, ext. 2300.

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