City budget adjusted to include 5.84% property tax bump
The City of Saskatoon’s planned property tax increase in its proposed budget has been marginally bumped up to 5.84 per cent.
In an update on Monday to Saskatoon’s proposed budget for 2025, the city announced that the hike would rise 0.20 per cent from the previously planned 5.64 per cent.
According to the city, the rise is needed to maintain service levels, fund strategic initiatives and help balance the city’s operating budget.
According to the update, Saskatoon is experiencing its fastest growth in over a century, with 26,000 residents being added in just two years. The city is expected to reach an estimated population of 308,000.
“This rapid growth, coupled with a strong labor market and one of Canada’s lowest unemployment rates, has driven unprecedented demand for city services,” the update read.
The planned increase to property taxes follows a 6.04 per cent hike in 2024 and a 3.93 per cent increase the year previous.
Overall, the city expects tax supported operating expenditures to rise by about six per cent or $35 million in 2025.
Saskatoon’s city council and newly elected mayor Cynthia Block will begin deliberating the 2025 budget on Dec. 2, 2024.
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