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Hamilton may need 6.9% property tax hike in 2023, city officials say

This fall, the 16 members elected as Hamilton's next City Council members have a bleak future ahead of them.

Hamilton's Corporate General Manager of His Services, Mike Zegalac, presented his three-year budget outlook at a meeting of the General Affairs Committee.

READ MORE: Hamilton City Council approves 2022 operating budget resulting in average 2.8% increase in housing taxes 15}

Meet Zegarac's projected 6.9% tax increase in 2023, boosting affordable housing and emergency services to maintain current service levels with a budget of $1 billion.

Zegarac said there was insufficient funding to deal with the recovery from the COVID-19 pandemic, with inflation high on the city's list of financial pressures.

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"Fuel prices have gone up about 50%," he said. city. "

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In addition to the 6.9% tax increase next year, the outlook predicts a 4.3%, 2.9% tax increase in 2024 After receiving approximately $160 million in COVID-19 funding for 2020 and 2021 and approximately $44 million in 2022 from

state and federal governments that Mr Zegarac said he was faced with covering the dollar without any more money and future expenses.

Read more: Canadians fear inflation will remain high, according to Bank of Canada survey

Zegarac said: Dealing with pandemic recovery The lack of funding to do so is primarily related to “homeless service systems, public health, long-term care, transportation, recreation, parking, and reduced shared income for OLGs.”

In 2022, Hamilton City Council approved a tax increase of 2.8% for him.