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Kingston's Comptroller John Tuey has raised concerns about the city's financial health, particularly regarding the 2026 budget. Tuey warned the Common Council’s Finance and Audit Committee on Wednesday (July 9) that the city might need to increase property taxes due to significant budget stress.
Sales tax receipts have decreased by over six percent compared to the previous year, putting the city at risk of not collecting enough revenue to meet its budgetary needs. This shortfall is exacerbated by rising debt service costs associated with ongoing infrastructure projects.
Despite some recent improvements in sales tax revenues, which have rebounded to within 2.26 percent of last year's figures, the city remains cautious.
Tuey emphasized the need for careful monitoring of the situation to determine future financial strategies. The city is facing a challenging financial landscape as it approaches the new fiscal year.