City aims for 2% tax increase

Only $300,000 to go to reach target

The city is only a few budget slashes away from meeting its goal of a tax increase of 2 per cent or less.

Currently, homeowners are facing a 2.1 per cent increase on their tax bills this year. With an extra $300,000 in cuts -- which will be debated over the next few weeks -- council will hit the 2 per cent mark.

This figure includes education taxes and a 0.5 per cent surcharge to help the city update its aging infrastructure.

Those figures assume the city will get a special grant from the province to the tune of $14.2 million to help Hamilton offset the costs of its social services. Without that money, residents will face a 4.4 per cent increase.

When the city began its budget deliberations in December, it predicted an increase of 3.1 per cent with the extra provincial funding, or 5.9 per cent without the boost from the Ontario government.

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City eyeing $300,000 in cuts to hit target of 2 per cent