City of Mississauga

City of Mississauga

December 12, 2007 16:26 ET

City of Mississauga: Council Approves a 3.9% Tax Increase for 2008

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 12, 2007) - Mississauga City Council approved a 3.9 per cent increase in the City's portion of the property tax today, as recommended by the City's Budget Committee. This equates to a $39.33 annual increase on an average residential property tax bill on a home assessed at $365,000.

"Council and staff worked hard to limit property tax increases while continuing to keep our buses, buildings and roads operational and running efficiently," said Mayor Hazel McCallion. "The City's budget provides for infrastructure investments and maintenance of the high quality services and programs our residents have come to expect from our great city."

The City's 2008 Capital Budget includes:

- $50 million for major road and related works as well as road rehabilitation

- $23.1 million for replacement of 40 buses and new acquisition of 15 new buses

- $21.1 million of the BRT preliminary and detailed design

- $11.3 million towards the renovation of Vic Johnston Area, River Grove Community Centre, Streetsville Village Hall and Port Credit arena (design only)

- $8.9 million for lifecycle maintenance for buildings and pathway lighting

- $8.5 million towards the first phase of the construction of the Fire Training and Mechanical Centre

"The City's budget committee and staff made every effort to minimize a tax increase for taxpayers without cutting service levels," said City Manager and CAO Janice Baker. "As part of our business planning process, staff will continue to focus on service priorities and efficiency improvements to keep our tax rates low."

"Prudent fiscal management has been the City's long standing principle which is demonstrated in the 2008 Budget," said Commissioner of Corporate Services and Treasurer Brenda Breault.

The City portion of a homeowners' tax bill represents approximately 28 per cent of the total property tax bill, with 46 per cent allocated for the Region of Peel and 26 per cent to the Province for education.

The 2008 Budget includes an operating budget of $511.3 million and capital budget of $271.6 million, for a combined total of $782.9 million. For more information, please contact Commissioner of Corporate Services and Treasurer Brenda Breault at 905-615-3200 ext. 5395.

Mississauga is Canada's sixth largest city with a population of more than 700,000. With well-established infrastructure and state of the art facilities, the City is considered to be an employer of choice, delivering quality municipal programs and services to its citizens. Mississauga is a dynamic, diverse, and progressive municipality, known for its economic strength and for being Canada's safest city.

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