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Peterborough city council adopted a 2024 budget with a seven per cent tax increase for residential ratepayers, Monday night — pared back, just before a final vote, from the 7.38
The city made a number of recommendations — including raising transit fares and dipping into reserves — to get the tax rate reduced from 9.59 per cent to settle on seven per cent.
Commercial and industrial property owners may be charged 1.65 times the residential tax rate
The City of Peterborough says the 7.38 per cent tax rate is equivalent to $10.72-per-month or $128.65 for the year increase per $100,000 of property assessment.
City staff originally recommended increase of 9.59 per cent