After two days of budget deliberations filled with tough choices, Moncton City Council is raising taxes.
They approved the budget in principle today which included a modest tax hike.
City Manager Jacques Dube says taxes are going up by a little over one cent.
“After all the adjustments, the new tax rate would be 1.6497, an increase of 0.0104,” says Dube.
That means on an average house valuation of $157,000 dollars, owners will be paying an extra $16 a year.
Dube adds the original proposal was for a 1.5 cent increase, but instead it is now just a fraction over 1 cent.
Despite raising taxes, the increase is lower than previous years because of a cooling real estate market which means the property taxes are not increasing as much as they normally would.
