Petrolia councillors propose a two percent municipal tax increase

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Petrolia council is bringing a $7.4 million budget with a two per cent tax increase to ratepayers Nov. 8.

That’s a half per cent less than municipal administrators presented in the draft budget session Friday – about $30,000 less.

Councillor Wade Deighton tried to eliminate the increase completely saying increasing municipal assessment – which is being driven up by higher housing prices and growth – will provide more tax revenue already, but the idea was rejected by councillors.

Councillor Joel Field said he worried by eliminating the tax increase – about $150,000 in revenue – there would have to be service cuts.

Councillors also approved a 2.5 per cent increase in both water and sewer rates.

The town hosts a public meeting on the budget Nov. 8.

More to come….