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Mississauga property taxes set to rise in 2014

December 12, 2013

Mississauga city council approved its 2014 budget on Wednesday, raising the residential property tax by 2.4 per cent.

The hike translates to a jump of about $72 a year for a home assessed at $400,000.

“The people of Mississauga understand that costs to maintain and provide services like transit, roads, libraries and recreation centres keep rising,” Mayor Hazel McCallion said in a news release.

“But they also know that City Council will make sure our taxes stay among the lowest in the GTA and residents are getting good value for every dollar.”

McCallion acknowledged at the meeting that revenues from development charges have been dwindling in recent years. She credited the revenue source for keeping the city debt free in the past.

Mississauga has already taken on $50 million in debt this year.

Property taxes fund 59 per cent of Mississauga’s $178-million capital budget and $672.2-million operating budget.

Council also voted to raise salaries for non-union staff by two per cent, despite deputations against the move.

Article source: http://www.680news.com/2013/12/11/mississauga-property-taxes-set-to-rise-in-2014/

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