The ideal situation for any city would be to have a tax raise of no more than the rate of inflation. This would be assuming zero growth or leakage in our tax base.
Currently 64 per cent of our taxes are paid by residential taxes. We need to balance this by attracting and expanding our business and industrial tax base. If we create a climate that is attractive to new businesses, including retail and service bases, then industrial and high-tech businesses will invest in our community.
This will increase our business tax revenues and level the property tax playing field for our residents.