WATCH: Property and Welcome tax help Montreal post third straight surplus
The city of Montreal posted its third straight budget surplus, and it was largely thanks to you, the tax payer.
During an update of city finances Wednesday, head of the Executive Committee, Pierre Desrochers, said Montreal posted a $139-million surplus on a more than $5 billion budget.
The majority of that money, nearly 70 per cent of revenue, was thanks to property and welcome taxes.
Valerie Plante, the leader of Projet Montreal, the city can't continuously count on its citizens to generate revenue, and should look for new sources.
"The pressure is getting more and more important on taxpayers," said Plante.
Despite the surplus, the city has increased its debt by more than $100 million, and Desrochers said Montrealers should get used to it.
"We will have to continue increasing our debt at the level of investment that the city needs. It's required - it's needed. Our road infrastructure, underground infrastructure, needs to be repaired. We need to invest. We need to control it," he said.
Desrochers added the city's debt will likely rise by about $80 million per year for at least the next couple of years.