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2.55% tax increase possible with Yellowknife’s 2017 budget

The City of Yellowknife released a draft for its 2017 budget this week, and it proposes a 2.55 per cent tax increase for next year.

How would this effect Yellowknife residents?

For people with homes worth $300,000, the increase would cost them an additional $45.90 in local taxes, while going as high as $76.50 for $500,000 property owners, and nearly $115 for those with properties worth $750,000.

Some big ticket capital expenditures include $1.9 million to revitalize 50 Street, $3.6 million in land fund projects, and nearly $10 million in water and sewer infrastructure.

You can read the full proposed budget here.

Residents are invited to give input on the proposed budget when it is presented at an open house next Tuesday and Thursday between noon to 1:30 p.m. and 7:00 to 8:00 p.m.

Councillors will begin debating the budget on Dec. 6 before it is adopted at a city council meeting on Dec. 12.

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