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Yk's proposed property tax hike slashed dramatically

Municipal taxes will rise for 2020, after the City of Yellowknife released its annual property assessments earlier this month. Blair McBride/NNSL photo

A proposed 11.92 per cent property tax hike in Yellowknife has since dropped to a tentative 4.26 per cent due to assistance from the territorial government.

The GNWT's Covid relief funding of $1.5 million and the territorial government's ongoing $855,000 toward addressing the municipal funding gap have made the difference.

"We received verbal notice that this will be the amount of funding we will receive. We are still waiting for contribution agreements to finalize the details, but this is what we are anticipating," Mayor Rebecca Alty said on Nov 24.

Between Nov. 30-Dec. 3, council will review the 2021 budget before it is slated to be adopted on Dec. 7.

The Nov. 16 regular council meeting was open to public presentations relating to the budget but there were no submissions.

About the Author: Derek Neary

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