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Common Council approves 2023 General Operating Budget

At its meeting on December 12, 2022, Common Council approved the City’s 2023 General Operating Budget. The approved 2023 General Operating Budget totals $177,287,500, a 7.63 per cent increase year over year.

The budget was produced based on Council’s strategic priorities, actions contained within the City’s 10-year Strategic Plan as well as on the principles, policies and targets contained in the City’s Long-term Financial Plan.

The budget includes a recommendation to reduce the property tax rate by 9.0 cents, from $1.71 to $1.62 per $100 of assessed value. This is the lowest tax rate in over two decades and puts the City ahead of the Long-term Financial Plan tax rate target. The budget also includes a moving tax ratio for Non-Residential and Heavy Industry classes from 1.5 to 1.7 which aligns with the City’s strategy on tax reform.

The 2023 General Operating Budget continues to advance the City’s long-term strategic financial objectives to increase flexibility, reduce vulnerability, and is sustainable.

For more details, and to view the full Council report, visit