Swift Current homeowners are facing a 13.14 per cent tax increase in the New Year. City council approved the hike on Monday night.
The city has been increasing taxes by at least 6 per cent since 2013. That increase is part of a five-year financial strategy to help fund capital projects and reduce the city’s debt. That debt has dropped by $3.77 million.
The city is blaming an additional 6 per cent increase on shortfalls from provincial funding. The final 1 per cent is the result of rising administrative costs.
Even with the tax hike, Swift Current’s Mayor Denis Perrault said Swift Current will pay some of the lowest residential taxes in the province. An average homeowner with a property valued at $280,000 will pay an additional $16.25 a month, or about $200 more each year.
The financial strategy is in its final year. Perrault said homeowners can expect small increases to their taxes in the future.
With files from CTV Regina's Ashley Field
