At a municipal ratepayers meeting at City Hall it was clear, your higher property taxes are a result of our collapsing industry.
And it’s going to get worse.
A long-term tax policy is something that the city says, would be more beneficial than the current revenue-neutral tax ratio.
The industrial tax base has gone down by over 50 per cent and this has left the regular property taxpayers to fork over more.
$275,000 was shifted to the regular property taxpayers last year, an increase of 1.9 per cent.
Industrial tax assessments went down by 1.9 per cent.
This system the city says is unsustainable.
Toronto municipal property taxpayers saw an increase by $15-Million.
The City of Sault Ste. Marie wants to work on a long term assessment that would do away with this revenue-neutral tax ratio.