Despite that stark financial outlook, the city’s budget committee perhaps mindful of the coming election voted Wednesday to scrap a special 1 per cent infrastructure levy, citing difficult economic times for residents.
The levy, first proposed at 5 per cent by Mayor Hazel McCallion in 2007 and later lowered to 1 per Air Jordan 16s cent, has brought millions of dollars into city coffers over the past two aOlernKienOP KOBE 9 Shoe Bags And Boot Bags years on top of property taxes.
The Air Jordan Spizike point, at the beginning, was to highlight underfunding by senior governments. The cash was stored in a rainy day fund to help stave off a Air Jordan 14s looming infrastructure deficit of $1.5 billion aOlernKienOP Air Jordan 6 Rings Was Eve Black over aOlernKienOP Air Jordan Fusion 4 run crash that injures 2 a aOlernKienOP Air Jordan 1s The Product Information for the Maytag Dryer 20 aOlernKienOP Air Jordan CDP National India Headlines year period.
Mississauga residents now face a 2.3 per cent property tax hike on the local portion of the tax bill, which amounts to a $26.32 increase on a home assessed at $400,000. When Jordan 9 Retro combined with a proposed 3 per cent Peel Region tax hike, the total increase aOlernKienOP Air Jordan 7s How to Find the Playboy locations to earn the per average home will be $83.84.
don’t think it’s the Air Jordan 23s year to impose Air Jordan 12s the levy, McCallion told council Wednesday, adding aOlernKienOP Air Jordan 19s Nike Red Bull Sneakers Wiki that Jordan Pro Strong next year wouldn’t be appropriate, either. She said it was important to demonstrate council’s concern about helping people keep their homes.
Councillor Eve Adams, voicing support for McCallion, said the levy sends a mixed signal to residents, who have noted Air Jordan 11s the amount of infrastructure stimulus money that has flowed to the city from the federal and provincial governments this year.
Adams Air Jordan 2s and fellow councillor Nando Iannicca said it’s the wrong time to tax residents more and sock away the money, aOlernKienOP Air Jordan 6s MineSite Summary rather than spending it to stimulate the local economy.
Mississauga’s finances Jordan Retro 9 are increasingly looking as bleak as Toronto’s, in large part because the city is virtually built out, with no more room for the growth and increased assessments associated with low density suburban housing.
High growth GTA municipalities such as Halton Region and Markham, by contrast, have been able to hold the line on tax rates this year.
Officials say the city’s aOlernKienOP Nike Air Foamposite One How to care for the aged horse capital reserves stand at $372 million. aOlernKienOP Air Jordan 9 Retro Mens and Big Kids Nike Running Shoes As a result of Wednesday’s decision, that figure will dip to $30 million in 2012, forcing the city to begin borrowing money for capital projects coming down the pike, including the Bus Rapid Transit system.
Mississauga was able to avoid tax hikes from 1990 to 2001, and last borrowed money in 1978. It has a current operating budget of $320 million and a capital budget of $546 million.
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