Montreal looking for new revenue streams that don't include raising property taxes
The City of Montreal is planning on holding a fiscal forum and summit to figure out new sources of income for the city.
The city is looking for options other than raising property taxes, which make up 63 per cent of the metropolis's revenue streams.
City hall says it needs to find new sources of cash to fund infrastructure projects and municipal services. Needs are rising, but so are costs and inflation.
Executive committee president Dominique Ollivier said the city is looking to supplement the budget with around $300 million in recurrent revenue. She said Montreal is facing a number of budgetary challenges, adding that previous governments under-invested in the city's infrastructure.
"We have to respect the capacity of the Montreal people to pay," "If we were to balance everything with property taxes - the way it's been done so far - it would mean really, really big increases that people couldn't pay, so we would have a metropolis that would be less affordable, a metropolis that would be reserved for a people of a certain standing and revenue and that's not what we want."
The city is putting together an expert committee, which will include academics and people with an expertise in municipalities and financing major projects.
It will also hold a finance forum next spring.
"We want to have an inclusive and green development," said Ollivier.
Some ideas that will be studied include installing water meters and hiking parking fees and fines.
Opposition leader Aref Salem said in a statement that the opposition will take part but referred to the forum as the city's "umpteenth consultation."
CTVNews.ca Top Stories
BREAKING King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
BREAKING Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
'Unacceptable': Trudeau reacts after AFN chief says headdress taken from plane cabin
After the Assembly of First Nations' national chief said her headdress was taken from an airplane cabin this week, Prime Minister Justin Trudeau called the incident 'unacceptable' and a 'mistake' on the part of Air Canada.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.