Budget talks have started in the Town of Amherstburg.
Town councillors met for a marathon budget session Tuesday afternoon – the first of many this week. Officials are looking to chip away at the town’s $44 million debt, all while trying to avoid a double digit tax hike.
On the table now is a 10.01 per cent property tax increase for residents, but that could change. 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.
