$1.56 billion in property taxes collected by KSAC last fiscal year
Mayor of Kingston, Senator Angela Brown-Burke, is reporting that the Kingston and St Andrew Corporation (KSAC) collected $1.56 billion in property taxes during the last fiscal year.
She says this represents 95 per cent of the target for the 2013-2014 financial year.
Senator Brown-Burke said this also left a shortfall of about $81.25 million.
Speaking at this week’s monthly meeting of the KSAC the Kingston Mayor noted that the majority of the property taxes collected came from St Andrew.
Meanwhile, Senator Brown-Burke disclosed that the KSAC recorded $394.67 million in revenue during the last fiscal year.
She said this represented 94 per cent of the budgeted target of $418.93 million.
The Kingston Mayor said the KSAC is working to reduce its debt of $25.6 million.
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