Last November, as part of the City of Saskatoon’s two-year budget cycle, Council approved the preliminary budget for 2023 which included a property tax increase of 3.53 per cent, but unless more savings are found, the increase will be 4.38 per cent. Chief Financial Officer, Clae Hack, says that works out to an additional $7.28 a month for a home with an average assessed value of $344,000.

Administration has released a report with its proposed adjustments, and Monday through Wednesday has been set aside for budget deliberations. Hack says the financial landscape for the City has changed significantly since the forecast revenues and expenditures were developed last November. “The City recognizes the significant financial stress, whether its residents or businesses are under now, with inflation hitting everybody from every which way, but unfortunately the City is not immune from those pressures.” Much like residents, the City has incurred higher costs for fuel, natural gas, materials and supplies.

Administration has found $5.7-million in savings, but expenses are still higher than revenue, leaving a $2.29-million gap to be filled by the property tax, because municipalities can’t have a budget deficit. One of the cuts included in the proposed budget is not increasing to a higher level of Transit service in Aspen Ridge as was originally planned, because the neighbourhood’s population hasn’t grown as much as was expected.

Hack adds that there is no impact to the property taxes from buying the Midtown Plaza north parking lot for the Downtown Event and Entertainment Districts. He explains that the City has had a land acquisition policy for over 50 years, and through the buying and selling of land, there is funding in place to buy the lot.

Hack emphasizes that nothing is set in stone at this point, until City Council has gone through the budget and approved it. City Council will also review and make its final decisions on the police budget and the Curbside Organics rate for 2023.