Montreal Mayor Valérie Plante released the 2023 city budget Tuesday morning.
The city’s financial officials are anticipating spending will hit $6.76 billion in 2023, $301 million more than in 2022, which represents a 4.7 per cent increase.
Some of the largest spending increases are $100 million for public security including the police department (SPVM) and the fire department.
Some $87.5 million will go toward financing the debt which sits at $11.6 billion. Montreal’s debt level as a percentage of its revenue is 115 per cent, which is a record amount.
There is also an additional net increase of $20 million for public transit.
Montreal is also planning to spend $22 billion in capital works projects over the next decade including city investments in major public transit projects including the REM de l’Ouest, the extension of the blue metro line to Anjou and the Rapid Transit System reserved bus lane on Pie-IX Boulevard.
Opposition councillors argue the spending increases are too high.
Get daily news
“It’s a budget where the spending is just run out of whack. $300 million is enormous,” Montreal City Coun. Alan DeSousa said.
Property taxes are increasing by an average of 4.1 per cent next year.
Some homeowners could seek hikes reaching seven per cent and others could pay as much as $383 more next year in taxes.
READ MORE: More than 90% of Canadians concerned about rising inflation, survey suggests
“In the difficulty folks are having in paying their bills, it’s absolutely unacceptable,” Jim Beis, the Pierrefonds-Roxboro Borough Mayor told Global News.
The mayor insists the increases are below the rate of inflation which is hovering close to seven per cent.
“Of course, it is difficult. It’s going to be difficult for some families. So, I guess what we’re trying to do here is to limit or at least take some pressure off, as much as we can,” Plante said.
The new property tax bills are scheduled to be mailed out to Montreal homeowners beginning next year.