London homeowners will be paying more in property taxes next year, but exactly how much more appears to depend on whether council is willing to make cuts.
The 2023 budget update was tabled before city politicians at the strategic priorities and policy committee on Monday afternoon.
While the previous council had set next year’s increase to taxpayers at 3.9 per cent, city staff outlined items that could be chopped or scaled back in order to lower that number. If council approves the fiscal document as is, the 2023 tax levy would be 2.9 per cent or an extra $92 on the property tax bill of the average homeowner in the city.
An average homeowner is considered to be someone whose home was assessed at $241,000 in 2019.
“We are working hard to reduce costs for Londoners where and when we can,” London’s Deputy City Manager of Finance Supports Anna Lisa Barbon, said in a statement. “The city remains committed to ensuring the efficient and effective use of taxpayer funds.”
In total, staff are pitching 18 property tax budget changes, including 15 operating and three capital budget amendments. The following are among the proposed cuts:
-Cancelling previously approved new streetlights, increased sidewalk winter maintenance, and reducing annual summer walkway
maintenance. Savings: $936,000.
-Scaling back horticulture aesthetics like outdoor hanging baskets, flower beds, and winter “horticultural displays”. Savings: $200,000
-Reducing a free summer playground program for kids aged 6 to 12. Savings: $250,000
-Switch from printed paper council agendas to electronic only. Savings: $8,000
Staff have also presented business cases for new spending on affordable housing, stronger cyber-security infrastructure, and a clean-up program that pays at-risk youth to pick up trash in the core.
The 2023 budget is the last year of the current multi-year budget that was approved in March 2020.
Londoners can learn more about the budget update at an in-person open house at city hall on January 12 and at a virtual session on January 14. Additional information can also be found online at getinvolved.london.ca/budget.
Council will debate the budget in January.
