Ottawa city council tabled a draft budget for 2015 on Wednesday that keeps property tax increases under two per cent, while maintaining city-building projects like light rail, the Arts Court expansion project and the Innovation Centre at Bayview Yards.
A property tax increase of 1.75 per cent translates to $67 a year for an urban home worth $355,000, and $55 a year for a rural home of the same value.
“This budget strikes the right balance by keeping life affordable, while continuing to make smart investments in Ottawa’s economy and quality of life,” mayor Jim Watson said in a statement, echoing his recent state of the city address by adding “signs of momentum are all around us. It’s an exciting time to be in the nation’s capital.”
Four regional budget public consultations will be held between Feb. 9 and Feb. 12. City standing committees, boards and commissions will meet to consider their budgets between Feb. 17 and March 5.
City council will then consider all recommendations from the consultations and committee, board, and commission meetings when it meets March 11.