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."