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The City of North Bay is prepared to use more than $3.6 million from reserves this year to both lessen the levy hike and offer a pair of subsidies – including for the airport and for those behind on their residential property taxes last year.
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Try refreshing your browser. North Bay proposes dipping into reserves by $3.6M Back to video
The use of reserves is included in the city’s proposed operating budget for 2021, which stands at nearly $97 million, nearly $3.2 million more than 2020.
The levy is the amount the city requires to operate and is generated from property taxes. It will now head to council for final approval Feb. 9.
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North Bay council is prepared to move forward with a 3.38 per cent increase to the municipal tax levy after adjusting for an unexpected jump in the city’s Workplace Safety and Insurance Board (WSIB) rate.
Members of council met Thursday evening for what is expected to be their final committee meeting on the 2021 budget.
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Try refreshing your browser. North Bay s proposed tax levy hike revised to 3.38% Back to video
At the committee level, council recommended the approval of an almost $97-million budget or levy for this year, an increase of nearly $3.2 million over the city’s 2020 budget.