After two days of budget deliberations, Moncton City Council will wrap up discussions on the 2023 budget during a special council meeting on Thursday morning.
Councillors are poised to approve a reduction in the residential property tax rate given the dramatic rise in assessments and inflation.
RELATED: Moncton Proposes Property Tax Rate Cut
Thanks to the province, the non-residential tax rate will also drop next year.
Water and sewer rates are expected to be frozen.
The rising cost of policing has become a major issue and councillors spent time on Tuesday discussing whether or not to hire five new police officers next year.
RELATED: Moncton Considers More Police Amid Rising Costs
The City of Moncton will be getting fewer dollars from the province of New Brunswick in 2023.
The equalization grant is dropping from $3.2 million down to $2.5 million and it is directly related to the local governance reform process.
A $188.3 million general operating budget is being proposed along with a $41.3 million water and sewer budget and city staff say both have increased since last year due to inflation.
