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Proposed mill rate increase reduced following budget meeting

Proposed mill rate increase reduced following budget meeting

December 12, 2018

Regina homeowners can expect to pay a few extra dollars in property taxes following the conclusion of the city’s annual budget meeting last night, but not as much as originally proposed.

On Nov. 16, the city’s administration proposed a 4.7 per cent increase to mill rates; however, Regina mayor Michael Fougere stated that the increase was too high.

The proposed mill rate was slashed to 4.325 per cent at the conclusion of budget deliberations, which translates to an extra $7.14 per month on a home valued at $350 thousand — 63 cents per month lower than originally proposed.

This tax reduction was achieved through a $300 thousand surplus in the budget and $600 thousand in savings for a total of $900 thousand.

However, Councillor Andrew Stevens argued the $900 thousand should be saved and invested.

“[The tax reduction is] so insignificant…it’s a rounding error in the most meagre of household budgets,” Stevens said during the meeting. “Now is the time for us to look to the future and not make a very empty gesture in terms of offering tax relief.”

To close off deliberations, utilities were on the table for discussion; primarily water rates.

Residents can expect to see a small bump of about $4.14 per month on their water bills as the proposed three per cent increase to the utility passed deliberations fairly quickly.

 

Photo Source: 980 CJME

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RE/MAX Admin

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