City council voted to move the commercial to residential tax ratio matter to 2017 on Monday night.
Administration is recommending the ratio between commercial and residential properties be shifted. Right now, commercial properties pay $1.75 for every dollar that residential properties bring in. The new proposal would lower the tax rate to $1.43 for every dollar generated.
The proposal was put forth by Saskatoon's Chamber of Commerce. Kent Smith-Windsor, executive director for Greater Saskatoon Chamber of Commerce, said it will continue to push the province to lower business taxes.
"Time is our friend," Smith-Windsor said. "We're really not asking for a change today. We're asking for a long-term phase in of this that can allow us to grow an economy together."
People spoke against and in favour of lowering business taxes at city council on Monday. Saskatoon resident Shane Prpich told council he believes the idea of lowering the commercial tax rate, "Is nothing short of appalling for the citizens of Saskatoon."
Saskatoon currently has one of the lowest business property tax rates in the country.