2.
Every year the budget is subject to inflationary increases and new development revenue, which comprises the base budget increase. In 2025, the base budget increase is 1.25% and new spending initiatives to maintain services levels is 2.75%, resulting in a 4% tax increase prior to saving additional funds for the Arena. With this in mind, which tax rate increase do you support? In 2025, staff are recommending a 6% tax rate increase.
*A 1% tax rate increase is equivalent to $161,000.