Tax hike of 1.96% eyed

Bonus cash from the New Westminster’s digital sign boards has helped slide the city’s property tax increase for 2014 under two per cent.

On Monday, council approved in principle a budget that would result in a tax rate increase of 1.96 per cent.

Last month, a budget proposing a hike of 2.59 per cent was presented, which was whittled down to 2.12 per cent.

To take it below two per cent, city council opted to include $100,000 in revenue from the large digital advertising signs located at entrances to the city.

Although the sign revenue has been allocated to reserve funds for rehabilitating or replacing Canada Games Pool, a new Massey Theatre and affordable housing, the city expects to receive revenue over and above the guarantee.

“The exact value of the bonus revenue is not known at this time, but based on initial projections staff believes that it is reasonable to include $100,000 in the 2014 budget,” said a report to council. Final budget approval is slated for March.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Fraser Health gets new president
Seven seniors flu clinics reinstated
Amrik Virk advised Kwantlen on secret executive bonus
Qayqayt falls to fifth in online contest
Arrests of pipeline protesters in Burnaby signal start of long battle
Two charged in Surrey stolen-vehicle incident that drew police fire
Burnaby Mountain protests play out on social media
New councillor excited to represent Agassiz
Seniors flu clinics may be reinstated

Community Events, November 2014

Add an Event