Reserves
There are certain situations when the Niagara Region may be faced with unexpected costs including:
- Changes in the economy
- Funding from the province
- Unexpected events and emergencies
To cover these costs and avoid increases in property taxes, we set aside funds known as reserves.
Watch this video to learn more.
Rainy Day Fund
Reserves are like a rainy day fund where you put money away from each pay cheque for unexpected expenses or major purchases. To build reserves, money is set aside from property taxes and the sale of assets.