Joe Fontana coined a new phrase in his Mayoral race tonight and for those tired of London’s ever climbing tax rates, Fontana`s “Taxication” sounded like music to their ears. When elected Mayor, Mr. Fontana declared he would put before the new Council, his plan to take London on a four year tax vacation.
“It will be Taxication in London”, he said, speaking to a crowd of about 250 supporters. “London must get its spending in check and it must give some relief to overburdened taxpayers. Assessment growth in London averages only 1.5% each year, and we need to do better. City revenues will have to go up by growing our economy, to cover increasing costs, but individual tax rates will be held down, to give London homeowner’s amuch needed respite and to bring commercial and industrial taxes into a more competitive place with other municipalities in the 401/402 corridor.”