2020-2023 Multi-Year Budget

Share on Facebook Share on Twitter Share on Linkedin Email this link

City Council approves 2021 Annual Update to the 2020-2023 Multi-Year Budget.

On January 12, 2021, London City Council approved the 2021 Annual Update to the 2020-2023 Multi-Year Budget, including a reduction in the 2021 tax levy increase from 4.4% to 3.4%. This reduction is primarily a direct result of investment deferrals due to the impact of COVID-19.

“Though the 2021 tax levy has seen a significant reduction, it is important for Londoners to know that the biggest budget amendments influencing this reduction are one-time deferrals,” says Anna Lisa Barbon Managing Director, Corporate Services and City Treasurer and Chief Financial Officer. “City Council and Civic Administration is committed to the previously approved investments through the multi-year budget and will see these projects move forward, barring any additional impacts from COVID-19.”

As a result of the changes approved through the 2021 Annual Update, residents will see the average four-year tax levy reduced slightly from 3.9% to 3.8%, resulting in an average annual tax increase of $114, a decrease from $117 (based on an average residential property with an assessed property value of $241,000 in 2019).

Learn more about the Annual Update and the amendments presented:

Tabling Presentation: 2021 Budget Update Tabling Presentation

2021 Annual Updates:

2021 - Tax Supported Annual Update

2021- Water and Wastewater & Treatment Annual Update

Additional Budget Amendments:


Why a Multi-Year Budget?

A multi-year approach to budget allows for better alignment between the long-term goals of Council and the funding plans required to implement them and provides Londoners with a clearer picture of service areas and programs their property tax dollars support.

Listen to Kyle Murray, Director of Financial Planning and Business Support speak to the flexibility of the MYB and the need for the annual update in the video link below.


Video Link for Annual Update Video


City Council approves 2021 Annual Update to the 2020-2023 Multi-Year Budget.

On January 12, 2021, London City Council approved the 2021 Annual Update to the 2020-2023 Multi-Year Budget, including a reduction in the 2021 tax levy increase from 4.4% to 3.4%. This reduction is primarily a direct result of investment deferrals due to the impact of COVID-19.

“Though the 2021 tax levy has seen a significant reduction, it is important for Londoners to know that the biggest budget amendments influencing this reduction are one-time deferrals,” says Anna Lisa Barbon Managing Director, Corporate Services and City Treasurer and Chief Financial Officer. “City Council and Civic Administration is committed to the previously approved investments through the multi-year budget and will see these projects move forward, barring any additional impacts from COVID-19.”

As a result of the changes approved through the 2021 Annual Update, residents will see the average four-year tax levy reduced slightly from 3.9% to 3.8%, resulting in an average annual tax increase of $114, a decrease from $117 (based on an average residential property with an assessed property value of $241,000 in 2019).

Learn more about the Annual Update and the amendments presented:

Tabling Presentation: 2021 Budget Update Tabling Presentation

2021 Annual Updates:

2021 - Tax Supported Annual Update

2021- Water and Wastewater & Treatment Annual Update

Additional Budget Amendments:


Why a Multi-Year Budget?

A multi-year approach to budget allows for better alignment between the long-term goals of Council and the funding plans required to implement them and provides Londoners with a clearer picture of service areas and programs their property tax dollars support.

Listen to Kyle Murray, Director of Financial Planning and Business Support speak to the flexibility of the MYB and the need for the annual update in the video link below.


Video Link for Annual Update Video


  • Key Dates and Budget Timelines

    Share on Facebook Share on Twitter Share on Linkedin Email this link
    10 Nov 2020

    Tabling of General Property Tax and Water/Wastewater and Treatment Budgets

    • November 17, 2020, 4:00 p.m. at the Strategic Priorities and Policy Committee


    Budget Public Participation Meeting

    • December 7, 2020, 4:00 p.m. at the Strategic Priorities and Policy Committee


    Property Tax and Water/Wastewater and Treatment Budget Review

    • December 10, 2020. 9:30 a.m. at the Strategic Priorities and Policy Committee
    • December 11, 2020, 9:30 a.m. (if needed) at the Strategic Priorities and Policy Committee


    Property Tax and Water/Wastewater and Treatment Budget Approval

    • January 12, 2021, 4:00 p.m. at Council


    You can watch the budget meeting live at london.ca/livestreaming

  • Comments & Questions

    Share on Facebook Share on Twitter Share on Linkedin Email this link
    10 Nov 2020

    Have any questions or comments about the Multi-Year Budget or the Annual Budget Update?

    The City of London's finance team will be happy to help you. Contact the team by email at budget@london.ca or call 519-661-4638.


    Interested in providing feedback on the budget?

    • Public Participation Meeting

    There will be a Public Participation Meeting held on the Annual Budget update on December 7, 2020. Find out more about the PPM process.

    • Connect with your Councillor

    Your City Councillor is always interested in hearing your feedback and concerns. To learn who your Councillor is or what ward your neighbourhood falls under, visit the City Council page of London.ca.



  • Property Tax Breakdown Calculator

    Share on Facebook Share on Twitter Share on Linkedin Email this link
    10 Nov 2020

    The City of London's Property Tax Breakdown Calculator for the 2020-2023 Multi-Year Budget is a tool to help provide insights into how your tax dollars are spent over the four year budget approved by Council on March 2, 2020.

    Property Tax Calculator

  • Finance Flicks

    Share on Facebook Share on Twitter Share on Linkedin Email this link
    10 Nov 2020

    The City of London team have compiled a number of 'Financial Flicks' that will answer some of your most asked questions.

    Please take some time and view these short videos.

    What is a Multi-Year Budget and Why Does London Have One?

    Budget Basics: Building the Budget

    How Your Property Tax is Calculated

    The World of Development Charges

    What is Assessment Growth