Flaw in the Niagara Falls 2026 Budget--What It Reveals About Accountability

In accordance with the Municipal Act, municipalities are not permitted to run a deficit.

In 2023 the city of Niagara Falls reported a modest budget surplus-- yet Niagara Region forecasts significant underfunding ahead.

Our city depends heavily on property taxes, government grants, casino revenue, and a handful of secondary streams-- all of which are volatile.

Yet, property assessments still reflect 2016 values because the Municipal Property Assessment Corporation postponed its revaluation after the 2020 pandemic.

For homeowners, this pause may feel like relief.

For some commercial property owners, it's a windfall.

Skyline Living, a member of the Greater Niagara Chamber of Commerce, is one of Niagara's largest landlords. Regarded by tenants as responsive and proactive, their numbers tell another story.

Between 2023 and 2024 (using figures from the REITs 2024 Annual Report)

• Skyline's property tax payments rose by just $893,000-- a 2% increase

• Their revenues rose 5.8% to nearly $380,000,000...while total taxes stayed a steady 26.9% of property revenue

• Meanwhile, rents increased 7.9%-- more than three times Ontario's maximum allowable rent increase (2.5% in 2023, 2.1% in 2026)

• The "Capital Work" exemptions they regularly utilize have allowed them to raise annual rents well beyond maximums- and increase their property values in the process

Companies like Skyline seem to benefit more from Niagara Falls residents' basic need for housing than they're currently reinvesting into our community.

If we want to build a sustainable city, we must hold corporations accountable-- not through punishment, but through partnership and purpose.

Imagine if companies like Skyline were incentivized to fund:

• homeless shelters and transitional housing

• workforce retraining programs

• access to mental health resources

These initiatives would:

• Reduce local crime and revitalize our streets,

• Provide stability and dignity for our residents,

• Rebuild our workforce-- from within.

Which company will these individuals be loyal to when they become self sufficient and look to rent in Niagara Falls?

That's not just policy.

That's leadership.

It's about reimagining what accountability can build.

Our city doesn't have a revenue problem.

It has an accountability problem.