City council has given final approval of new property mill rates for residential, non-residential and agriculture properties.

The 2023 mill rates, approved at Monday’s council meeting, are retroactive to Jan. 1.

The increase in mill rates reflect the 3.37 per cent increase in property taxes announced by Mayor Laura Cabott in her annual budget address in February.

The administrative report prepared for council’s meeting notes the new mill rate for residential properties was set at 1.076 per cent, up from 1.054 in 2022.

The new mill rate for non-residential properties has been set at 1.628 per cent, up from 1.606 last year.

The new rate for agricultural properties was set at 1.146 per cent, up from 1.124 in 2022.

The administrative report notes for the average residential properties, property taxes will rise to $2,699, representing an increase of $88 per year compared to 2022.

In her budget address, Cabott noted the city’s annual operating budget for this year was set at $100.3 million, representing a $7-million increase over the 2022 operating budget of $93.5 million. There was a 2.65 per cent increase in property taxes last year.

Council also voted Monday to approve the 2023 annual operating budget announced by Cabott.

In December 2022, council approved a new capital works budget of $57.1 million for 2023.

Of the total, however, $42.2 million is dependent on external funding approval, primarily from the Yukon and federal governments.

As well, the bylaw setting out new fees and charges for 2023, such as fees for recreational activities, waste collection and so on, was adopted by council on Monday.