WINNIPEG — Winnipeggers will be paying more for their property taxes starting next year to cover the next phase of rapid transit to the University of Manitoba.
The city will increase property taxes 0.33 per cent every year starting in 2016 and continue for a decade. The hike is expected to bring in $1.7 million a year.
READ MORE: Winnipeg budget hikes taxes, fees and infrastructure funding
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The second phase of rapid transit is the largest capital project in Winnipeg’s history.
The city’s share of the nearly $600-million, 7.2-kilometre project is $225 million.
The city will also increase the cost of bus fare five cents to help pay for the massive project. It is a one-time hike and will be over and above regular fare increases, the city said. The nickel jump should bring in $1.7 million a year, according to city estimates.
READ MORE: Councillor slams lack of bus service in south Winnipeg neighbourhood
The city will ask the province to allow it to keep the full amount annually to go towards the rapid transit extension.
The rapid transit line is expected to be fully operational in 2020. The mayor has promised to complete all six legs of rapid transit by 2030.
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