In recent weeks, the Chamber has been actively engaged on two key municipal issues that will impact the business community.
The City of Thunder Bay’s 4 year strategic plan was amended and adopted by City Council on July 17th. As part of consultations during the development of the plan, the Chamber provided numerous recommendations intended to increase the focus on economic growth within each strategic direction and the subsequent goals and objectives. City Council’s discussion of the plan focused on the need for a stronger focus on economic growth matters and concluded with the addition of a new strategic direction pillar on growth. The Chamber looks forward to continuing our participation throughout the next stage of plan development with City Council and Administration.
2024 Budget Direction
On July 24, City Council will provide direction to City Administration on the 2024 Budget. City Administration is recommending a 6.57% gross tax levy increase (ie: the increase in city spending that will be funded through tax revenues) which equals 6% net after growth (ie: new properties or assessments that will offset the cost increase).
To inform City Council of the views of local businesses regarding the potential tax levy increase, the Chamber asked for Member input through a survey. Thanks to all Members who responded in a short timeframe. The results are as follows:
What level of tax levy increase do you consider reasonable in this economic environment?
6% net – 19%
No more than 5% – 24%
No more than 4% – 36%
Other – 22%