As promised by city officials in Saturday's print Gazette, municipal tax increases will not reach double digits for the next three years.
City administration lifted the lid from the 2009-11 budget during a preview for the finance and audit committee on Tuesday. All council members sit on the committee, so it was their first opportunity to see the proposed increases.
Here's the proposed tax hike breakdown:
2009: 8.39 per cent
2010: 8.42 per cent
2011: 7.84 per cent
The 2009 increase works out to an extra $17 per month in taxes for the owner of $420,000 single-detached home. That's $204 a year for those without a calculator.
Utilities up 9.5%
Taxes are not the only means for a municipality to raise revenues. Utilities are also on the rise — 9.5 per cent annually for all three years of the budget.
The utility hike means the average* monthly bill will rise $7.06 in 2009 to $81.37. That would increase to $89.10 in 2010 and $97.32 the year after.
* The city bases the average utility bill on 20 cubic metres of water consumption and two bags of garbage.
I'll have more information about the 2009-11 budget later in the day.
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