Mayor Bevilacqua calls for a City of Vaughan 0% tax increase for 2021
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Standing up for taxpayers, safeguarding economic competitiveness
Mayor Maurizio Bevilacqua issued the following statement after today's Committee of the Whole (2) meeting, where Council supported the Mayor's Member's Resolution asking City staff to bring forward a 2021 Budget with the option for a zero per cent property tax increase, for consideration by Members of Council:
Mayor Maurizio Bevilacqua issued the following statement after today's Committee of the Whole (2) meeting, where Council supported the Mayor's Member's Resolution asking City staff to bring forward a 2021 Budget with the option for a zero per cent property tax increase, for consideration by Members of Council:
"COVID-19 has created unprecedented challenges for the provincial, national and global economy – including the economic competitiveness of communities across Canada.
"Throughout this global pandemic, the City of Vaughan has been guided by the three core values of readiness, resiliency and resourcefulness. Vaughan was the first city in Ontario and the first municipality in York Region to declare a state of emergency on March 17. That same day, the City launched the Vaughan Business Action Plan – which included a series of temporary measures to support businesses, consumers, and citizens.
"Small businesses – which have been particularly hard-hit by COVID-19 – remain the backbone of Vaughan's strong economy, representing more than 85 per cent of all local job creators. The city-wide #ShopVaughanLocal campaign continues to surge on social media in support of our local business community.
"The values of readiness, resiliency and resourcefulness continue to guide our efforts as the City's 2021 Budget is developed.
"Vaughan proudly maintains one of the lowest tax rates in the Greater Toronto Area. Property tax relief is an opportunity for the City to provide much-needed support to citizens and local businesses that continue to make sacrifices to ensure our community's safety while striving to find savings during these uncertain times.
"Competitive property tax rates, and tax relief measures more broadly, are equally important to attracting new investments and retaining existing businesses in our city. Now more than ever, Council must explore all options to ensure Vaughan creates the right environment for aspiring entrepreneurs and established businesses to achieve economic prosperity.
"According to the Conference Board of Canada, in 2020, the unemployment rate in Vaughan is forecasted to be 7.3 per cent. As of July 2020, the monthly unemployment rate in the Toronto census metropolitan area (CMA) was 14.7 per cent, and in Canada, it was 12.3 per cent. Although it is encouraging to know Vaughan's unemployment rate is well below the national and regional levels – we must do more to support business owners.
"Vaughan's Real Gross Domestic Product (GDP) is forecasted to decline by 5.9 per cent in 2020, from $24.19 billion to $22.76 billion. In terms of GDP, while Vaughan is anticipated to recover in 2021, it will likely be 2022 before all industry sectors have fully recovered. Canada's GDP is forecast to decline by 6.6 per cent overall in 2020.
"The City of Vaughan's 2021 Budget will be the roadmap that guides our efforts to build a better, more promising future for all citizens. It will help drive our efforts to navigate through COVID-19. It will be a plan rooted in fiscal responsibility and credibility and will work to ensure we maximize every dollar we are entrusted to invest by the people of our city.”
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