London Mayor Josh Morgan will present a budget update to Tuesday's budget committee meeting with proposed changes aimed at holding the property tax increase below five percent in each of the next two years.

In 2026 and 2027, the final two years of the four-year budget, Morgan is proposing a spending plan with property tax increases of 3.6 per cent and 4.7 per cent respectively.

If the changes are approved, it will mean the average property tax increase over the four years of London's 2024 to 2027 budget will average 6.1 per cent.

For taxpayers it's a significant improvement from the 8.7 per cent increase applied in 2024 and 7.3 per cent increase last year.

This chart shows the property tax increases proposed in Mayor Josh Morgan's budget. Morgan was targeting an increase of below five

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