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City proposes 4.86 per cent mill rate increase
Published Thursday, February 1, 2018 10:16AM CST
Last Updated Thursday, February 1, 2018 6:51PM CST
The City of Regina’s proposed 2018 budget includes a 4.8 per cent mill rate increase.
That increase includes a 1 per cent pre-approved increase dedicated to the Residential Roads Renewal Program.
The city says the increase will cost a homeowner with an assessed value of $350,000 an additional $7.70 each month in municipal property taxes.
Last year, the city originally approved a 3.99 per cent tax hike, but was forced to reopen its budget after it lost $10.3 million in provincial funding. In April, the city approved an additional 2.5 per cent increase, bringing last year’s tax increase up to 6.49 per cent.
The city said it will lose an additional $4.6 million in revenue from the provincial government this year. The provincial revenue sharing grant is also expected to be about $2 million less this year, representing a 5 per cent decrease from 2017.
“Residents want good value for their property tax dollar. The City has worked diligently to find over $9 million in ongoing savings over the last 12 months.” City manager Chris Holden said in a news release. “The proposed 2018 Budget continues to invest in key community priorities, including a $3 million increase in our annual contribution to capital and a $4.3 million increase for Regina Police Service and Fire & Protective Services.”
The city proposes investing $132 million in infrastructure renewal, maintenance and construction projects in the coming year.
The proposed budget will be presented to city council for approval on Feb. 27.