The 7 per cent proposed tax hike is the biggest Regina residents have seen in recent memory. (CBC)

The City of Regina wants to boost property taxes by 7 per cent this year — the biggest hike in more than three decades.

The proposed increase, which would apply to the city portion of taxes only (and not library or education taxes), is part of the preliminary city budget that was released Tuesday.

The 7 per cent includes a 1 per cent special tax for building streets in older areas of the city. Also included in the total is the latest hike to the stadium tax — about 0.45 per cent this year.

"I think taxpayers understand that it costs more to run the city," Mayor Michael Fougere said.

Meanwhile, the city will also continue hikes to water and sewer rates that are well above the rate of inflation — homeowners will pay 8 per cent more in both 2014 and 2015.

For the owner of a typical home worth around $300,000, the tax hike would translate to an extra $109 per year. This year's water and sewer hike would add another $120 to the tab.

The numbers could change between now and when council votes on the package in the spring.

The last time Regina experienced a property tax hike higher than 7 per cent was 1982, when it went up by 9.63 per cent.

In December, Saskatoon city council approved a 7.43 per cent property tax hike, the highest in decades.