October 23, 2020, by Joey Coleman
Hamilton City Hall is hopeful the provincial and federal governments will continue providing record levels of financial support to municipalities for transit, public health, and COVID costs to address budgetary pressures resulting from the pandemic.
Based upon this presumption, City staff state the starting figure for the 2021 municipal budget process is a 4.0 percent tax increase â€“ an increase of $146 for a home with average assessed value exclusive of area rated services.
The City says it is â€œprojecting additional financing pressures related to COVID-19 in 2021 between $34.8 M and $59.2 Mâ€, the City says pressures are primarily related to public health, housing and homelessness, and lost transit revenue.
Council will hear from the public near the end of the budget process on February 8, 2021.
What does this mean?
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