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TBay BUDGET PROCESS SHOWS CHALLENGES TO COME

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Thunder Bay Chamber of Commerces

 THUNDER BAY, ON  ----  March 8, 2016  ----–  Last night, City Council ratified the 2016 Budget resulting in a 4.04% increase in the tax levy as well as increases in numerous user fees for business and residents.

“The reduction of the tax levy increase from the starting point of 5.77% shows that the business community’s concerns about rising costs were heard by Council,” says Charla Robinson, President of the Chamber of Commerce. “The Chamber is pleased that Council was able to bring the final tax levy increase down to 4.04%, representing a 2.10% increase for existing taxpayers.”

Robinson continues, “This year’s budget discussions clearly show that there are more challenges to come.  Tax levy reductions were primarily achieved through project delays and accessing reserve funds.  While these decisions will provide short term relief, they do little to address the long term financial challenge of municipal costs increasing at a higher rate than revenues collected.  The Chamber offers our assistance to Council and Administration to review the budget process and address long term budget challenges.”

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