City council begins 2024 budget deliberations on Monday (Dec. 4) and the adjusted tax levy comes in at a 3.76 per cent increase.
Keep in mind this is a preliminary look at the budget and in recent years, council has been able to shave up to a percentage point off the initial levy figure.
The proposed levy for the coming year is a shade under $69 million, which is an increase of $4.2 million over this year.
When you factor in $1.7 million in additional growth-related tax, the levy increase drops to $2.4 million, which is a 3.76 per cent increase over this year.
Contractual increases in wages and benefits – $2.5 million – and wages and benefits for new positions next year – $1.4 million – are the biggest contributors to the tax levy increase. Continue reading →