REGINA — With the City of Regina forecasting a 15.69 per cent mill rate increase for its 2026 budget, businesses in the city are facing stark numbers, said Mike Tate, CEO of the Regina and District Chamber of Commerce.
Currently, the City of Regina is projecting a near $52 million deficit for 2026, requiring an uptick in its mill rate.
During an interview, Tate mentioned property tax increases funnel down to businesses occupying spaces.
“[It] challenges their margins. It does not help their ability to remain competitive, or certainly doesn’t help their ability to grow as a business.”
At a time when businesses are dealing with the challenges of tariffs and inflation, Tate said mill rate increases only add to the uncertainty.
“[So] You'll get some businesses that will just kind of hit pause and perhaps not institute some of their growth plans, perhaps not hire those extra people.”
Tate mentioned businesses will start looking elsewhere for more affordable/better solutions as property taxes continue rising in the city.
“Businesses are always going to look at methods outside of the city [when] it’s cost-effective and the best value for their business.”
Losing businesses in the city creates a significant impact from an attraction standpoint, according to Tate.
“We all look forward to further options or more options when it comes to hospitality, going out to eat, socializing, connecting with our friends and relatives and community members. So it's a significant impact.”
While Tate feels the finalized mill rate will be lower than 15.69 per cent, he said the number isn’t as important as the value of what taxpayers are receiving.
“I firmly believe that all taxpayers would pay for great value in return, and I do believe that the goal of council is to offer our citizens the best value in return for their taxes.”
Tate said the Regina and District Chamber of Commerce will continue having discussions with Mayor Chad Bachynski, city councillors, and administration to ensure they can find the right balance for citizens and residents.
The city’s budget will be discussed starting on Dec. 15.
