THUNDER BAY, ONTARIO - February 1, 2020 (LSN) Well, things should be quite interesting this evening at Thunder Bay City Council as they have their final budget deliberation meeting. Councillor Mark Bentz has staked out his position. In remarks reported in the local media, he is of the position that levy hikes are not sustainable given that tax levy increases are more than double the consumer price index over the last decade. In a very stark graph provided in the Chronicle Journal, Councillor Bentz asserts that since 2011, the tax levy has grown by 32 percent while the CPI has gone up 14 percent and the assessment base only 7 percent. This is of course a pretty classic interpretation of sustainability in that the tax levy is growing faster than the tax base meaning that the tax burden is essentially deepening on ratepayers.
By: Livio Di Matteo:
NORTHERN ECONOMIST 2.0
Livio Di Matteo is a Senior Fellow at the Fraser Institute and Professor of Economics at Lakehead University in Thunder Bay, Ontario, where he specializes in public policy, health economics, public finance, and economic history. His recent work examines health-care spending and its sustainability. As well, he conducts research on the historical evolution of economic inequality. Di Matteo is a member of the CIHI National Health Expenditure Advisory Panel, the Evidence Network (EvidenceNetwork.ca), and is a contributor to the economics blog, Worthwhile Canadian Initiative. He has been listed in Canadian Who’s Who since 1995 and holds a Ph.D. from McMaster University, an M.A. from the University of Western Ontario, and a B.A. from Lakehead University.
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