City council finalized their financial plan Monday night, approving an average residential tax rate rise in line with the overall budget increase of 3.5 per cent.
The 2013 tax rates for the city's six property classes split the burden of the $83.5 million tax levy.
The tax rates per $1,000 of assessed value for each class are:
* Residential: $7.94 ($7.80 in 2012)
* Utility: $40 ($41.07 in 2012)
* Major industry: $46 ($46.88 in 2012)
* Light industry: $25.19 ($26.42 in 2012)
* Business: $15.66 ($16.42 in 2012)
"All of us, if we could, would bring tax rates down to zero or less," said Coun. Garth Frizzell. "I think [the rates] achieves what we want without causing tax shock on any class."
The tax rates and the five-year financial plan passed without the approval of Coun. Albert Koehler, who continued to oppose going down any route that would raise taxes above the two per cent rate of inflation.
But Coun. Cameron Stolz stressed that the actual increase to the city's operating budget was only 0.65 per cent, with the rest coming from boosts to the road rehabilitation budget and the creation of a new reserve fund for general infrastructure renewal projects.
