Thanks to a $1 million contribution from City West on March 28, the proposed Prince Rupert tax rate increase has been lowered.
Proposed on March 22, Prince Rupert residents were facing a 15.7 percent tax increase.
However, with CityWest’s contribution, the city is now facing a proposed 13.4 percent increase.
In total, that increase will result in $26.2 million in revenues over the next year, contributing to the city’s total $85.3 million spending budget.
The city says part of the increase is out of their control due to external factors.
One impact being a reduced Payment in Lieu of Taxes grant on port properties which accounts for 4.3 percent of the proposed increase.
Unlike other levels of government, municipalities can’t operate in a deficit, so each years budget has to be balanced.
Public consultations on the 13.4 percent increase will happen on April 11 and 24 in council chambers, until then, no tax rise will be implemented.
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