Metropolis of Saskatoon units proposed property tax will increase of greater than 5% for 2022, 2023 – Saskatoon

The city of Saskatoon is preparing for another multi-year budget process and believes that property taxes could be increased by several percentage points compared to their last budget.

The government has set an increase of 5.96 percent for 2022 and an increase of 5.42 percent for 2023.

Continue reading:

Saskatoon police disappointed, business owners hopeful with new city budget

These proposed sentences, along with a report, will first be presented to a city committee next week before being discussed in the city council in October and finalized in late November and early December.

“The city’s spending increases are primarily driven by growth and inflation,” said Kerry Tarasoff, chief financial officer of the City of Saskatoon, in a June 17 press release.

The story continues under the advertisement

“The administration has made efforts to limit the increase in household expenditure in order to reduce the potential increase in property tax while maintaining the existing level of benefits.”

Tarasoff noted that employees cut $ 7.5 million from the proposed 2022 budget, lowering the rate by three percentage points.

Click here to play the video:

2021 reviews sent to Saskatoon property owners

2021 Ratings to Saskatoon Property Owners – Jan 27, 2021

A table in the city report shows that maintaining current city services and the Saskatoon Police Service budget will require an increase of 4.82 percent for 2022 and 4.58 percent for 2023.

The additional proposed tax hike comes from the inclusion of two major capital projects the city has been planning for years – the city’s share of the cost of express bus transportation (BRT) and the collection of solid waste and organic matter.

The report says BRT funding will increase 0.27 percent in 2022 and 0.03 percent in 2023.

The story continues under the advertisement

The organic collection program would see additional surveys of 0.8 percent or more for both years.

Continue reading:

Saskatoon city councils vote to lower the property tax hike in 2021

Similar news

  • 2021 reviews sent to Saskatoon property owners

The city expects revenue to grow by $ 3.15 million in the next year and by $ 5.06 million in 2023, but it doesn’t expect large ones given the costs caused by inflation and changes in the economy Effects.

Tarasoff said there have also been declines in non-tax revenues and longer-term effects from the COVID-19 pandemic.

The city expects the financial impact of the pandemic to be $ 16.8 million in 2022 and $ 10 million in 2023.

She believes spending constraints and help from provincial and federal governments will be needed to fill the gap.

Before a final rate is sent to the city council, the government and the priority committee will decide whether the proposed rate will be presented to the council later this year or whether it will be adjusted by increasing or decreasing it.

Continue reading:

Saskatoon property taxes still rise by 3.87% according to the adjusted 2021 city budget

The story continues under the advertisement

Last year, the city saved more than a percentage point of its budget for 2021 and changed the rate from 3.87 percent to 2.83 percent.

It found the adjusted rate was the lowest tax rate hike the city has made since 2006.

Similar news

© 2021 Global News, a division of Corus Entertainment Inc.

Comments are closed.