Côte Saint-Luc adopts 2015 budget: city spending stays flat, average residential property tax increase of 1.9 percent
December 21, 2014
The City of Côte Saint-Luc has adopted an operating budget for 2015 that kept spending flat and saw the property tax of 1.9 percent for an average single-family home in the city, which is less than the Canadian rate of inflation, which is 2 percent.
“We have again contained costs while maintaining our services,” Mayor Anthony Housefather said. “This is the ninth consecutive year where the tax increase was below the rate of inflation.”
The Côte Saint-Luc City Council adopted the $66.67 million operating budget on December 15, 2014. About 42.3 percent of all taxes collected by Côte Saint-Luc are transferred to the island-wide regional government, which funds services such as police, fire, and public transit.
The property tax bills will be sent to homes on January 28, 2015. The deadline to pay property taxes has been set at February 27 for the first installment and May 28 for the second installment.
“As a responsible city administration sensitive to the financial constraints of our taxpayers we made every effort to meet our target and hold the tax increase to less than 2 percent – with a decrease in water tax rate – all in line with the increase in the cost of living,” said Councillor Steven Erdelyi, the council member responsible for finances.
Budget and tax highlights include the following:
• Average increase in taxes for single-family home valued at $572,300: 1.9 percent
• Decrease in water, residential and non-residential tax rates
• Increase in revenues from taxation: 1.12 percent
• Revenues from property taxes: 85.2 percent
• Revenues from local improvement taxes: 0.1 percent
• Revenues from compensation in lieu of taxes: 1.9 percent
• Other revenues (eg, program fees, memberships, etc.): 12.8 percent
The three-year capital expenditures plan was also adopted on December 15. Approximately $13 million in capital expenses is anticipated in 2015.