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Ottawa Okays $1.3 Million in Bonds for City Projects

Posted by wlpo on February 23, 2016

Part of your tax bill if you live in Ottawa will be going toward paying off new bonds for city projects, but the bill as a whole won’t go up.

Yesterday afternoon, the Ottawa City Council passed a measure allowing the city to take on more than $1.3 million in debt to fund four big city projects. You’ll be responsible for about $40 of that per year for every $100,000 your home is worth.

Commissioner Wayne Eichelkraut stressed, however, that the bonds don’t necessarily mean a tax increase. Because of a number of factors, the bonds aren’t expected to increase your tax bill.

The bonds will be paid off over the next 4 years.

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