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UPDATE: Council Chooses Option One Of Tax Policy


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. ....

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Council approves 2021 tax policy

Council approves 2021 tax policy
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Council Faces Decision With Tax Policy Report


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 ....

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