The City of Charlottetown budget was approved on Friday by City council.
Residents won’t see any increase to property tax rates but assessments will be going up 5 per cent mandated by the province due to high inflation.
Water and sewer rates are going up 5 per cent. That will mean an average hike of about $35 a year.
It’s a balanced budget with a surplus of $30,000 despite new spending.
Finance Committee Chair John McAleer tabled the budget for 2023-24. Spending is going to rise from 66.5 million in the current fiscal year to $77.5 million in the new budget.
Increased property assessments and a higher than expected operating surplus has resulted in the surplus of $30,000
The new spending will include adding two new police officers, five new transit buses, a new bylaw enforcement officer who will work on short-term rental regulation and the development of the city’s new official plan.
