The proposed Saskatoon property tax hike for 2017 could be slightly less than originally estimated.
City administration officials said the increase could now be 3.85 per cent, down from the 3.95 per cent increase initially proposed in the preliminary budget.
Kerry Tarasoff, the city’s chief financial officer, said three changes have taken place since the budget was tabled on Nov. 7.
Tarasoff said assessed growth in Saskatoon is expected to be $1.2 million higher than originally estimated, giving the city more money to offset expenditures.
He said that is offset by SaskPower’s rate increase. The Crown corporation had asked for a 5.0 per cent increase, which was reduced to 3.5 per cent by the rate review panel.
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“While the lower rate is good news for citizens on their power bills, it has a negative impact to Saskatoon Light and Power and to the mill-rate,” Tarasoff said.
“This affects the amount of revenue we receive from our own power company and franchise fees from SaskPower – as a result the net impact is a $306,300 decrease in our general revenue.”
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The police budget is also higher than estimated in the preliminary budget, with the board of police commissioners approving a $699,300 increase to what was originally proposed.
Tarasoff said that with the changes, the easiest approach is to re-table the preliminary budget with the new estimates.
The revised budget will head to Saskatoon city council on Nov. 30.