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City finance committee suggests tax relief for businesses

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The city’s finance and audit committee will recommend city council keep the business tax rate the same as 2022.

The city’s finance and audit committee will be putting forward a recommendation to city council to keep the city’s business tax rate at 2022 levels, despite an overall 7.58 per cent tax increase.

A motion approved by the committee members, will see the committee recommend that the business tax rate would remain at $14.39436 per $1,000 of assessed value for 2023. Small businesses have been especially hard-hit over the past two years, during the COVID-19 pandemic, Coun. Trudy Klassen said. RESIDENTIAL TAXES RISING The proposed residential tax rate is $5.53442 per $1,000 of assessed value, down from $5.75774 per $1,000 in 2022.

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