Fredericton City Council has agreed, in principle, to a 180-million dollar proposed budget during their last council-in-committee meeting. The budget will go for an official vote on November 25th.
The city saw a 6.98% assessment base increase in property values over the last fiscal year. Just under a third of that was due to new construction, with the remainder due to an increase in market assessment. The increase prompted councillors to propose a two cent decrease in the property tax rate for those residents with full access to city services, from 1.3286 to 1.3086 dollars per $100 in assessed value.
The budget also includes an increase in buses, with high traffic routes during weekday service being increased to every half hour, as well as increases in rates for four-hour parking meters and both hourly and monthly parking rates in the city’s garages and car parks.
Listen to hear more details on the budget as a whole and the impending changes.
