City council approved its 11th hour changes to the 2011 tax rate in a special meeting Wednesday night.
On Monday city council rejected the tax rate it had approved on May 2. The revised tax rate evens out the 25 per cent increase for the light industrial sector over the business, utility and major industrial classes.
"I think this is the best outcome," Coun. Shari Green said. "The net change for the major industry 0.01 per cent. We haven't lowered the burden, but we haven't effectively raised it."
The tax rates for 2011 approved Wednesday night are:
Residential/supportive housing: $7.6304 per $1,000 assessed value.
Light industrial: $27.357 per $1,000.
Major industrial: $47.89847 per $1,000.
Business/other: $16.28435 per $1,000.
Utility: $40.71087 per $1,000.
Farm: $5.20001 per $1,000.
The tax rate bylaw will be finalized on a second special meeting Friday at noon.
