City of Yellowknife's draft budget proposes 8% property tax increase for 2025
CBC
The City of Yellowknife is proposing an eight-per-cent property tax increase in 2025.
That's according to its draft budget for 2025, released on Tuesday.
The city's director of corporate services says the theme of this year's budget is "foundations for growth."
"The City of Yellowknife is at crossroads," said Kavi Pandoo. "Not only with the way it does business and the services it offers, but also because of macroeconomic factors, like volatile market conditions, climate change, and stagnating tax base."
The city is also proposing a 9.27-per-cent increase in 2026, and seven per cent in 2027.
The draft budget proposes $53 million for capital projects, including nearly $16 million for the replacement of Lift Station 1, $6 million for water and sewer infrastructure replacement, and $4 million for the new landfill and landfill expansion.
The draft budget proposes total spending of just under $144 million in 2025. That's $12.5 million more than the city anticipates spending this year.
Part of the proposed spending increase is to cover the cost of 10 additional full-time city staff.
"I am by no means saying the sky is falling. Not at all. But we have a collective responsibility to make sure it stays that way, by having difficult conversations and making hard choices," Pandoo said.
"With multiple major infrastructure coming due for renewal in the near future, the rapidly rising cost and volatile market conditions, it would appear that we are about to hit the high seas on a dinghy pretty soon."
He said the city's debt complicates the situation further, and government grants will become a "crucial source of funding" for capital projects in coming years.
Members of the public can submit feedback to the city on the proposed budget to budget@yellowknife.ca. Public presentations to council are scheduled for Nov. 25.
Yellowknife city council is scheduled to begin reviewing the budget on Dec. 5.
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