City of Iqaluit to raise property taxes by 3% in 2020
“The increase is required to allow the city to work to address the needs of our growing community”
Iqaluit city council approved the city’s 2020 budget during a special council meeting last Friday, on Dec. 13.
According to a City of Iqaluit news release, “the new budget focuses on service delivery for residents and planning for the future. The budget includes new heavy equipment to ensure safe, reliable service delivery. A key focus of the 2020 budget is the city’s water infrastructure; specifically the planning and implementation of the long-term water supply and storage, which is critical to city’s ability to increase development.”
To help pay for this spending, city councillors have approved a three per cent property tax increase.
“The increase is required to allow the city to work to address the needs of our growing community,” said Mayor Kenny Bell.
In addition to the increase in property tax rates, the 2020 budget also includes a one per cent increase to sanitation rates, which will help prepare the city for the operation of its new waste transfer station and landfill, according to the news release.
Also as part of the 2020 budget, councillors endorsed the city’s five-year, $31.3-million strategic capital plan that is funded by federal infrastructure funds, gas tax, Government of Nunavut block funding, city reserves and city funds.
“The city’s funds are in a positive position, which allows us to address the city’s priorities,” said Coun. Kyle Sheppard, the finance committee’s chair.
While the capital spending plan addresses many of the city’s immediate needs, additional funding will be required in the future, said Bell.
“The reality is that the city has an infrastructure gap and its long-term needs must be addressed further through external funding and building partnerships,” he said.
The new budget takes effect on Jan. 1.