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THUNDER BAY — Thunder Bay residents could be in for the largest municipal tax increase in recent history in 2024, after city council approved targets for next year’s budget.
Along with some of his colleagues, Pasqualino argued economic growth — particularly attracting new industry — is the only way out of the city’s financial challenges.The city’s tax base has grown by less than one per cent per year since 2016. Council’s vote to trim half a point from administration’s recommended tax increase will require the city to find roughly $1.1 million in cuts or new revenue.
“Every time you consider reducing a program or service, you and we hear from people that that’s not what they want,” he said. “We also hear… that people don’t want to see substantial tax increases.” The average hike under the previous 2018-2022 term of council was even lower, at 2.3 per cent, or 1.96 after growth.
“Our outside boards have to be on notice that we’re in a situation where our backs are up against the wall,” he said. “We’re looking at [cutting] soft services, recreation, potentially that has impacts on kids and parents.”
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