THE BIG PICTURE
London city council rubber-stamped its 2021 budget on Tuesday night. It outlines$1.04 billion in city hall spending this year and saddles property taxpayers with a 3.4 per cent tax hike, one of the highest in a decade.
The 3.4 per cent increase will add an extra $101 to the property tax bill of an average home assessed at $241,000 in 2019. This year’s increase was originally set at 4.5 per cent. The reduction is thanks to a growing tax base that added more than $8 million to city coffers and deferred spending amid the COVID-19 pandemic. The deferrals include the municipal share of new child-care spaces that weren’t created given the health crisis and London’s plans to divert more waste away from the landfill. A green bin program, for example, was expected to roll out this year but is pushed off to 2022.