Council gave final adoption to the city's five-year financial plan bylaw for 2025 to 2029.
The bylaw, which received three readings in December, sets the priority services, programs and initiatives for the next five years and how the city will pay for them.
“I really would like to thank staff, [Director of Finance] Jedha [Holmes], and all the council, those who are not here as well, for all the thoughtful insights and input into wrestling this beast to the ground, as it were,” said Acting Mayor Mary Beil during council's Jan. 20 meeting.
The forecast rate increases for 2025 are seven per cent for property taxes, six per cent for water fees and six per cent for sewer fees, which will result in an increase of about $175 over 2024 for an average residential property, according to the city.
Property tax rates and utility rates will be set in the spring.
