Kingston has joined the growing number of municipalities requesting a portion of the Provincial Land Transfer Tax (LTT) and Goods and Service Tax (GST) go to municipalities as a source of steady infrastructure funding.
Revenue from LTT collected by the Provincial Government and GST collected by the Federal Government is not currently shared with municipalities.
Councillor Ryan Boehm brought the issue before Council at their last meeting, stressing the current struggles the City is facing to make ends meet in the face of growing costs and revenue streams “not keeping up”.
This is one of many paths to sustainable revenue municipalities are considering as the Ontario Federation of Municipalities continues to push for a new Municipal Growth Framework, which includes municipal finance reform.
The motion to make the formal request to higher levels of government received unanimous support.
