The proposed mill rate increase of 4.86 percent for the 2018 civic budget in Regina is not being met kindly by the Regina Chamber of Commerce.
Speaking with 620 CKRM on Thursday, CEO John Hopkins while acknowledging the hard work city administration has done in crunching the numbers says there is simply no appetite for a property tax hike of that magnitude.
Hopkins says businesses are already dealing with the impact of things like low commodity prices, uncertainty over NAFTA and a PST increase and this will only magnify the situation.
He says with this 4.86 percent increase in the mill rate it means a business with $350,000 worth of property will pay $153.35 more each year with residential home owners paying $92.40 more a year with a home worth $350,000 which is something they have no appetite for.
Hopkins is hoping to pour through the preliminary budget and work with the city to find effiencies which can help lower the number.