The City of Thunder Bay's proposed 2025 municipal tax levy increase is the lowest in Ontario among cities with over 100,000 residents at 3.7 percent. City Manager John Collin states this competitive edge could attract new residents and investment. The increase represents $7.8 million in tax revenue and the total operating budget would be $448.8 million. The city aims to achieve this through budget efficiencies and not filling all vacant positions while maintaining essential services.
THUNDER BAY — The City of Thunder Bay’s 2025 proposed municipal tax levy increase is currently the lowest in Ontario among cities with more than 100,000 people, according to city manager John Collin.
The 3.7 per cent tax levy increase represents $7.8 million dollars in tax revenue, before growth, bringing the tax levy-supported portion of the proposed budget to $217.4 million. The total operating budget would be $448.8 million. “Certainly nothing that the community will notice. We might cut back $10,000 within the delivery of service, but across the board, no significant reductions to any services within the city,” Collin said.
“We're putting it into reserve to grow more. So the proposed tax rate is 3.7 per cent, and that's all in.” Administration has pegged the property tax rate increase to the four-year rolling average for the Consumer Price Index , which measures inflation on consumer goods.
TAXINCREASE BUDGET CITYOFTHUNDERBAY ONTARIO MUNICIPALFINANCES
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thunder Bay MPs Reflect on 2024 Highlights and Hopes for 2025This article features Thunder Bay's MPs Patty Hajdu and Marcus Powlowski reflecting on their achievements and aspirations for the upcoming year. Hajdu highlights her work on First Nations water legislation and advocating for Thunder Bay's resources. Powlowski celebrates his success in securing carbon tax rebates for rural communities.
Read more »
Thunder Bay Racers Gear Up for 2025 Ice Racing SeasonThe Thunder Bay Autosport Club is preparing for the 2025 Ice Racing season with tech inspections ensuring all cars meet safety standards. The season kicks off on January 12th and runs until March 9th, featuring the Don Kettering Memorial races on February 15th and 16th. Spectators can expect daily crowds of around 300.
Read more »
Ice Racing 2025 kicks off in Thunder BayGary Adomko takes home three wins.
Read more »
Thunder Bay receives first significant snowfall of 2025Thunder Bay and surrounding areas in northwestern Ontario experienced a significant snowfall over the weekend, with Environment Canada estimating 12 to 15 centimetres of snow accumulation. While the city itself received a considerable amount, areas east of Thunder Bay saw even heavier snowfall due to lake enhancement from an Alberta Clipper. Road conditions remain hazardous in some areas despite the end of weather alerts.
Read more »
Thunder Bay Construction Booms in 2024, Setting Stage for Continued Growth in 2025The City of Thunder Bay experienced a surge in new construction projects in 2024, with permits issued for projects valued at $225 million. This figure reflects a significant increase compared to the average value of $122 million for projects started in the city between 2016 and 2022. The city anticipates continued growth in 2025 with several large-scale projects in the pipeline, including a cardiovascular surgery expansion at Thunder Bay Regional Health Sciences Centre and a proposed indoor turf facility.
Read more »
Thunder Bay Proposes 3.7% Tax Levy Increase in 2025 BudgetThe City of Thunder Bay has released its proposed operating budget for 2025, which includes a 3.7 percent increase in the municipal tax levy. The budget prioritizes strategic investments in key areas to support sustainable growth and enhance the city's quality of life. Public consultations and budget deliberations are scheduled in the coming weeks.
Read more »