The total budget is just over 14.2 million dollars up from just over 11.4 million last year. The mill rate for residential property decreased to 39.73 down from 50.25 and commercial decreased to 48.34 from 58.13 last year. This is due to the Special Services Levy of 894 dollars for property and 395 dollars for business that removed police and fire services, recreation support services and snow removal and dust control from taxes. The mill rate includes 22.80 mills for local schools. Hudbay contributes just over 6.4 million through a grant in lieu of taxes which is shared with the School Division.
An example notes residential property pays taxes on 45 percent of assessed value so a property assessed at 100 thousand dollars at 16.83 mills will pay 771 dollars in general taxes and 894 dollars for the special services levy for a total of 1651 dollars not including the school portion.
The City plans to spend just over seven million dollars on capital expenditures including government grants, other revenue sources and city reserves with larger spending of four million dollars to begin new construction for the Aqua Centre and one million on critical capital utility updates.