Winnipeg to release 2023 budget update on Wednesday
The City of Winnipeg is set to announce its 2023 budget update on Wednesday afternoon, which means ratepayers will know more about what’s happening with property taxes.
The budget update will be released to the public once the preliminary 2023 budget motion is moved at a special Executive Police Committee meeting, which begins at 2 p.m.
This is Scott Gillingham’s first budget in the role of mayor. During his campaign, he pledged a property tax increase of 3.5 per cent and a one-time frontage levy.
The budget updates comes the day after the city released its year-end financial status report for 2022. The report shows a shortfall in the tax-supported operating budget of $83 million and a shortfall of $4.9 million from transit.
The city attributes much of the shortfall to the impacts of COVID-19, as well over-expenditures in snow and ice operations. Finance committee chair Jeff Browaty said the rainy day fund will be used to cover the shortfall.
CTV News Winnipeg will provide updates on the budget as more information becomes available.
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