Seemingly defeated by the tough financial situation facing city hall and its municipally funded agencies, council used the final day of budget deliberations to explain their reasons behind a steep property tax increase in the 2025 Budget Update. On Wednesday, city council recommended amendments to the mayor’s draft budget that slightly lowered the property tax increase from 7.4 per cent to 7.
3 per cent. It represents a $263 increase on the average London home with a value assessed for tax purposes at $252,000. Council also approved increases of $8 (1.
5 per cent) to the average annual water bill and $38 (5.4 per cent) to the average annual wastewater/sewer bill. In total, the average London household could pay an additional $309 in 2025.
“My constituents are hard working. Many are hourly labourers. Many are retirees on pensions.
This is hard on them,” acknowledged Coun. Peter Cuddy. “We cannot afford these high property tax rate increases year after year,” Coun.
Susan Stevenson told colleagues. Stevenson’s last-ditch effort at a two per cent tax rate decrease by utilizing $16 million from a reserve fund did not draw any support from colleagues— but did spark a warning against using one-time dollars in a savings account to offset rising annual expenses. “Yes, it would reduce the 2025 tax burden by two per cent, but it is not a sustainable cut,” explained Mayor Josh Morgan.
“It would go back up by an additional two per cent in 2026.” “If the councilor (St.
