Amherstburg’s 2014 capital budget is back in the hands of administration, as they try to reduce a double digit tax hike.
On the second day of budget talks, Amherstburg town council asked administration to lower a proposed property tax hike of 10.01 per cent, to no higher than 5 per cent.
Officials are looking to chip away at the town’s $44 million debt. The town is wrestling with the idea of selling its shares in Essex Power.
Chatham based electric distribution company Entegrus has put forth an offer to purchase Amherstburg’s shares for $12 million. The shares represent a 14 per cent stake in Essex Power.
If the town were to accept the deal, it could potentially lower the tax increase to 6.94 per cent.
Ontario’s Ministry of Municipal Affairs and Housing received the go-ahead in March to conduct an audit of the town’s books.
