The City of Saint John sign is pictured in this file photo. Image: Brad Perry
The city’s proposed 2023 General Operating budget was presented to the finance committee.
The draft totals $176,439,982, which is up 7.1 per cent year over year.
It includes a property tax rate reduction of nine cents.
“Moving from $1.71 to $1.62 per $100 of assessment,” mentioned Kevin Fudge, chief financial officer for the city of Saint John.
If approved by the city’s common council, the 2023 property tax rate would reduce by a total of 16.5 cents or 9.25 per cent.
The budget also moves the tax differential for commercial and heavy industry from 1.5 to 1.7, which aligns with Saint John’s strategy on tax reform.
The finance committee will discuss the budget further at a meeting on November 21.
