Residents of the Festival city may be in store for a 2.26 percent tax hike if the proposed 2021 draft City of Stratford budget is approved.
The city is receiving a 500 thousand dollar transfer from their $1.7 million dollar tax stabilization reserve fund to try and reduce the budget’s impact on residents already struggling during the pandemic.
There are further impacts to the budget possible; tenants at city owned buildings have requested rent reductions in their existing leases as well as the additional costs of new staff hired to assist with climate change, tourism strategy development as well as renovations and protective equipment due to the pandemic.
