The City of Thompson, the local school board and INCO have reached a tentative deal over tax payments.

This week a provicial mediator was brought in after INCO announced last year that it was cutting its annual tax contributions by $1.7 million.

School Board Chair Margaret Pronyk says details are being kept secret until the board and city council ratify the deal the next week.

The mining company's $6 million tax payment represents a third of the city's budget.

But under a special agreement signed in 1956, INCO has the power to set its own tax rate.