Ratepayers await a definitive answer on the city’s 2025 operating and capital budgets, however at last Monday’s council meeting some serious pencil sharpening was evident.
The process began with a proposed 4.93 per cent hike to the municipal tax levy next year.
However, after more than two hours of deliberations, that hike has been whittled down to about a 3.8 per cent increase.
This was accomplished by dipping into reserves for an additional $650,000 to soften the hit on ratepayers next year.
Next year’s proposed levy is almost $74.5 million, up from just shy of $69 million this year, an 8.13 per cent increase.
Factor in the estimated additional growth-related tax of 3.2 per cent and ratepayers were looking at a 4.93 per cent hike.
