Fredericton City Council has agreed, in principle, to a 180-million dollar proposed budget during their last council-in-committee meeting before it goes for an official vote on November 25th.
The city saw a 6.98% assessment base increase in property value over the last fiscal year, 2.3% due to new construction and a 4.68% market assessment increase, which has prompted a proposed 2 cent decrease in the inside residential tax rate, for residents with full access to city services, from 1.3286 to 1.3086 dollars per 100$ in assessed value.
It will also see an increase in transit, with high traffic routes during weekday service being increased to every half hour, and as a result will see 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.
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