The City of Montreal says taxes are going up next year despite posting a small surplus for 2023. Officials promise the hike won't be more than 4.9 per cent.
WATCH: Montrealers will see another increase in their property taxes next year. The city of Montreal unveiled the state of its finances on Friday saying lower revenues have taken a toll. While the city managed to post a surplus this year, the opposition calls the city's financial management a mess. Global's Gloria Henriquez reports.The City of Montreal unveiled the state of its finances on Friday, releasing how much money it spent last year.
“It’s one of the lowest surplus over the last 10 years. It’s very low,” said Luc Rabouin, chair of city council’s executive committee.As a result, the city says it won’t be able to stop taxes from rising next year, although the officials promise the hike won’t be above 4.9 per cent.The opposition calls the state of the city’s finances “outrageous.”
But economist Moshe Lander isn’t as concerned. “They essentially did what their budget said, and that’s really all you ask for a budget to do,” he said.
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