Saskatoon’s early budget is calling for a property tax increase of nearly four per cent.
The city released the 2017 preliminary budget Monday afternoon, which proposed a 3.97 per cent rise in property tax.
A homeowner whose property is valued at the market average $325,000 will pay $67.55 more per year in 2017, if the preliminary budget is passed unchanged, according to the city.
The increase would raise the city’s operating budget — proposed at $481.4 million — by about $8.1 million.
Nearly two per cent of the increase would be put toward Saskatoon’s road improvement program, with the remainder divided between a snow and ice removal program, city operations, the Saskatoon Police Service and the Saskatoon Fire Department.
About 23 per cent of taxpayer’s property tax goes towards the city’s police budget — which takes the largest portion of property tax dollars. The transportation budget makes up 19 per cent of the property tax distribution, while the fire department snags 13 per cent.
The corporate support budget — or the budget for city offices, like the city manager and city clerks’ offices — takes up nine per cent, and the transit budget makes up eight per cent. The remainder of the property taxes are split between budgets for recreation, parks, affordable housing, garbage and waste reduction, urban planning and debt servicing.
Saskatoon’s new city council is expected to deliberate the budget between Nov. 30 and Dec. 2.
A 3.97 per cent rise in property tax would be nearly identical to last year’s increase of 3.96 per cent, but below the 2014 and 2015 increases. Taxpayers saw property taxes rise 7.43 per cent and 5.34 per cent in 2014 and 2015, respectively.
The preliminary capital budget is pegged at $261.4 million.
