Council unanimously approved the City of Thompson 2024 Financial Plan at a June 13 special meeting, following a public hearing.

The budget for 2024 is $41.6 million.

The City of Thompson property tax mill rate increased 1.3% from 2023, rising to 26.49 mills. The School District
of Mystery Lake property tax mill rate is 20.861, up 3.6%. The combined residential mill rate is 47.351, up 2.3%
from last year.

A home valued at $175,000 will be assessed $2,907 in net taxes after the Education Property Tax Credit in
2024, up $55 from last year.

Residential tax bills also include a special service levy to cover the costs of repairing water, sewer and storm
service line breaks on residential properties. In 2024, the special service levy amount is $91.91, down from
$96.21 in 2023.

The commercial mill rate also includes the Provincial Education Support Levy of 8.129 mills, for a total rate of
55.48 mills, up 1.93% from 2023. A commercial property with an assessed value of $1 million would pay
$34,179 in net tax after the Education Tax rebate, $639 more than last year.

The City of Thompson business tax remains at 3.99%, the same as in 2023.

City of Thompson capital spending totals $40.6 million this year. This includes work on the new Thompson
Regional Aquatic Centre and on multi-year road and water/wastewater main renewal projects. Nearly $33
million of capital spending comes from federal and provincial grants, with $5.6 million from City of Thompson
reserves and about $2.1 million from other sources, including general revenues and a $2 million donation from
Vale for construction of the new pool.

Property tax bills are mailed out in the summer and the payment deadline is October 1.