2025 Budget talks are underway for the City of Moncton.
Chief Financial Officer Jacques Doucet made recommendations this week to help protect homeowners from higher property tax assessments and to help maintain or lower tax rates.
“What we are proposing is a balanced approach where we would use 5.5 per cent of property tax revenue growth for 2025 until the strategic plan is costed out. We would like to address the inflationary and growth pressures in capital. We would like to increase that capital budget by $3 million per year.”
City Council voted in favour of the recommendations in principle at Monday’s Committee of the Whole meeting.
This will be voted on again by the Moncton City Council.
The 2025 budget is expected to be presented in November and finalized by the end of the year.
With the amount of new residential properties in Moncton last year, assessment values rose by 9.2 per cent.
The 2025 budget is around $212 million, with the majority coming from property tax.
