The city of St. John’s is bringing down its budget for 2022 today following what has been yet another difficult year for the city.
The city is facing financial challenges similar to what it had to contend with in the 2021 budget.
This year, according to a “What We Heard” document released last month, the city is expecting a shortfall of about $13-million. That number is slightly more than the deficit last year of nearly $12-million.
While there were no property tax increases last year, the city did introduce a slew of fee increases and spending cuts, as well as availing of surpluses accrued in previous years. It received COVID relief money from the province to help deal with the financial burden.
During consultations, the city heard from residents that taxes need to be kept stable and that small businesses are taxed enough. Further, the city’s spending needs to be collectively reduced in order to keep costs as low as possible. To do that, it was suggested that the city look at options such as privatizing Metrobus and recreational services, and selling the Mary Brown’s Centre.
Details of the budget come down during council this afternoon at 3 p.m. VOCM News will be there.
Meanwhile. the city of Corner Brook is bringing down its budget for 2022 this afternoon.
Last year’s budget saw no residential tax increases, although grocery stores, large retail outlets and department stores saw an increase in their business tax as the city tried to cope with a challenging year with the pandemic.
The city will announce the budget during its regular council meeting tonight at 7 p.m.
