Council gives preliminary approval for property tax increase
Posted Oct 22, 2014 06:02:09 AM.
This article is more than 5 years old.
If a preliminary approval moves forward, property tax in Halifax could go up an average of 1.8 per cent.
The potential tax hike has been approved by Regional Council as the city plans for next year’s budget — something senior staff said will be balanced, but it’s going to take some work.
Mayor Mike Savage told Global Halifax he wants to find a balance between adding to the deficit and creating sources for revenue.
“What’s more important, I think, to me, at council is: what are we spending money on, and how much money are we raising?” He said. “And are we putting an undue burden on residents or businesses in Halifax, and what do we do about it?”
Right now, the city’s on par for a $13-million deficit according to senior staff, but CFO Greg Keefe told the Halifax Metro the planning they’ve been doing so far, has been working.
Council also debated property assessment caps, which, if removed, could drop the tax rate by 10 to 12 cents while not driving Halifax any further into debt.
That call however, is up to the Nova Scotia government, not HRM.