A budget proposal released on Friday says that the portion of Property Taxes of Regina City could rise up by 4.5 per cent.

Regina City Mayor Pat Fiacco said about the proposed property tax increase: “We'll see the provincial budget on Wednesday. There might be some surprises there”.

He added, “Of course the final 2009 results will see a surplus at the end of the year which will allow Council to provide some flexibility in reducing that 4.5%”. Fiacco revealed that the surplus stands at $2.9 million as of now, and has been billed to the General Reserve Fund.

The capital budget is expected to stand at $70.5 million this year, compared to last year’s $68 million. It covers the development costs of street construction, bridges and other miscellaneous construction etc.

The increase, if passed without any change, would be the highest since Fiacco took charge as the city mayor. The previous high was a 4.33% increase back in 2000.

The proposed budget will be up for evaluation at a special meeting by the City Council on April 27.