Deadline For Submissions On Road Tax Proposal
By 250 News
The deadline for making a submission on to city hall about a proposed four-percent road rehabilitation levy is 5pm this evening.
Last week, City staff held three open houses at the Civic Centre to answer questions on the proposal. (click here, for previous story)
The idea is to move from financing annual road reconstruction to a "pay-as-you-go" method, meaning dollars from the levy would go into a reserve fund to be used solely for road works. If approved, the measure would save $1.8-million dollars annually in interest on borrowing over a 15-year term. (click here, for more on the proposal on the City’s website)
The City’s Director of Corporate Services, Kathleen Soltis, says the results of this consultation process will be presented to the Finance and Audit Committee next Wednesday. She says city council will be given a preliminary look at the results during its budget meeting later that afternoon. "We may not have a recommendation at that time, but we can give them a sense of what we found out, so far, and where Finance and Audit would like to go with it."
A property tax hike of 2.4-percent is being proposed for the 2007 budget. If approved, the road tax would tacked on to that lift.
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Isn't it already approved.....
just need most of the coucil to raise their hands to make it official....