The exterior of Saint John City Hall is pictured in this file photo. (Staff photo)
It was another step forward for Saint John’s proposed operating budget for 2022.
The budget was discussed by the city’s finance committee during a meeting Wednesday evening.
The proposed 2022 budget totals $164,721,858, an increase of 4.7 per cent year over year.
It also includes a property tax rate reduction of 7.5 cents, from $1.785 to $1.71 per $100 of assessed value.
Coun. David Hickey hopes residents will be pleased with the decrease in property tax since the city saw an annual growth rate of 6.24 per cent.
“No matter where they live, or no matter how they live in the city there’s an impact here, and I think this growth is making a difference, and that’s what that tax reduction is.”
In the report, city staff mention the budget has been produced based on council’s strategic priorities as well as the principles, policies, and targets contained in the city’s long-term financial plan.
That plan was adopted in 2019 and is part of a broader financial strategy for the city to help address its financial challenges.
Coun. Gary Sullivan said it was exciting to see the budget follow this plan.
“This long-term plan is good when times are tough, and this long-term plan is good when times are good, and it keeps us moving forward with the long-term vision and success of the City of Saint John insight.”
The committee unanimously approved the report, and it will go to council for approval next Monday.
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