At a special Prince Albert City Council meeting Tuesday night, new property tax bylaws were approved, which finalize the City’s tax plan for this year. it includes a 1.8 per cent mill rate increase this year, along with a $40 base tax for residential properties, $20 base tax for apartments, and a tiered base tax for commercial properties.

Mayor Greg Dionne says this solution was chosen to address Prince Albert’s unique housing market. Middle valued homes dropped in value, causing fewer properties to carry a larger portion of the tax load. He explains the shift occurred in last year’s revaluation, where some homes experienced as much as 30 per cent increases in their property taxes.

An increase in the mill rate, which is traditionally what cities use, Dionne says, would have applied a much greater increase on the higher valued properties.