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Brampton Guardian
City considers two per cent tax levy on all homeowners (November 9 2007)
http://www.northpeel.com/news/article/37548
QUOTE
BRAMPTON - Brampton councillors will consider a two per cent annual tax levy on all homeowners to help tackle the city`s multi-million dollar needs to repair and replace aging infrastructure and deal with growth.
That`s similar to the attention-grabbing five per cent tax levy Mississauga councillors just approved in principle in their city for its infrastructure deficit.
The levy-- Brampton city staff recommended two per cent per year-- would be in addition to annual tax increases, and tacked on to everyone`s property tax bill every year for the next five to 10 years. The base tax increase city councillors are anticipating for 2008 is approximately 4.5 per cent.
In 10 years, a two per cent levy would generate approximately $240 million for the city, which is just about right considering Brampton`s infrastructure deficit sits at $273 million over the next 10 years. Brampton Mayor Susan Fennell said if the city decided to make a one-time move to add a higher levy-- for instance, a five per cent levy in 2008-- that would generate only $105 million over 10 years. ...
City considers two per cent tax levy on all homeowners (November 9 2007)
http://www.northpeel.com/news/article/37548
QUOTE
BRAMPTON - Brampton councillors will consider a two per cent annual tax levy on all homeowners to help tackle the city`s multi-million dollar needs to repair and replace aging infrastructure and deal with growth.
That`s similar to the attention-grabbing five per cent tax levy Mississauga councillors just approved in principle in their city for its infrastructure deficit.
The levy-- Brampton city staff recommended two per cent per year-- would be in addition to annual tax increases, and tacked on to everyone`s property tax bill every year for the next five to 10 years. The base tax increase city councillors are anticipating for 2008 is approximately 4.5 per cent.
In 10 years, a two per cent levy would generate approximately $240 million for the city, which is just about right considering Brampton`s infrastructure deficit sits at $273 million over the next 10 years. Brampton Mayor Susan Fennell said if the city decided to make a one-time move to add a higher levy-- for instance, a five per cent levy in 2008-- that would generate only $105 million over 10 years. ...