Saskatoon looking at 3.41% property tax hike
The City of Saskatoon is getting more money from the province this year, but it seems that won't spare residents from a tax increase, according to preliminary budget documents released this week.
The documents, released Tuesday, called for a 3.41 per cent property tax increase.
For the owner of a home assessed at $200,000, that would mean a hike of $43.04 a year. (Any increases from school boards or the library board would be added to that.) However, there could still be changes to the proposed tax hike between now and late April, when the budget gets final approval.
City officials said Tuesday that growth is putting pressures on the budget.
Projects such as the Shaw Centre, which will house an Olympic-size swimming pool, are among the high-cost items the city will be supporting with its $280-million spending plan.
The city is also making payments on the new Saskatoon police headquarters, and it plans a $1.6-million increase to the municipal bus subsidy.
New money from the provincial government's revenue-sharing plan will provide some relief, the city says. A major change announced by the province last month gave Saskatchewan municipalities a guaranteed portion of the provincial sales tax that will translate into an $8.7-million boost for Saskatoon this year.
However, it will not be enough to keep taxes at current levels, city officials said.