Use the Proceeds from Growth to Cap Future Tax Increases At or Below Rate of Inflation While Sustaining Services
As a city, we must live within our means and ensure living in Kingston remains affordable for taxpayers. I am pleased that, over the last four years, your council has delivered a tax rate increase in line with the rate of inflation - 2.5% - while maintaining the services Kingstonians depend on and making important investments for the future.
Looking ahead to the next four years, I am committed to capping future tax increases at or below rate of inflation while sustaining services. To do this, I will use the proceeds from growth to cap tax increases.
Our success at managing our tax rate increases over the past four years required reviewing our existing operations and finding savings and efficiencies while avoiding any cuts to services. And while we will continue to do this, we also need to find new funds to maintain a low tax rate increase. This is where embracing a policy of growth comes in.
Embracing a policy of growth is about attracting more investment to our city and welcoming new housing and development. Together, these two things will expand our tax base and take the pressure off of existing taxpayers like you. With more funds made available through growth, we can deliver a tax rate increase at or below the rate of inflation, while maintaining services and investing in key projects for our city like the Third Crossing.