Mill rate increase part of City of Regina’s 2022 proposed budget
Global News
The recommended mill rate increase of 3.49 per cent would translate to an added $6.31 per month for the average homeowner, or around $75 per year.
Citizens of Regina could be paying more to the city next year based on a mill rate increase in the proposed budget for 2022.
City administration revealed its proposal for next year’s budget on Tuesday morning which features a 3.49 per cent mill rate increase. It works out to $6.31 per month or around $75 per year for the average assessed home valued at $315,000.
There’s also a five per cent rate increase recommended for the 2022 utility fund budget, which would mean a rate increase of $7.25 per month or about $87 per year for the average homeowner.
The suggested rate increase would see two per cent dedicated to accelerating the replacement of lead pipe connections and three per cent to fund operations, maintenance and the long-term utility capital plan.
Administration said that the mill rate increase allows the city to invest in projects which align with strategic initiatives, including:
The proposed mill rate hike is a result of the dedicated mill rate for Mosaic Stadium at 0.45 per cent, which in 2022 will be in year 10 of its 10-year commitment.
There is also 0.50 per cent towards the Recreational Infrastructure Program, 1.22 per cent for civic operations and an added investment in the Regina Police Service at 1.32 per cent.
An investment of $136 million is proposed for the 2022 General Capital Fund to focus on infrastructure maintenance and renewal of roads, bridges, sidewalks and city-owned and operated facilities.