© Daily Herald staff
A Saskatchewan government chart shows Prince Albert‚Äôs share of the PST through municipal revenue sharing from 2007 to the current fiscal year.
With municipal revenue sharing bumped up to a record height, property owners will see a lessened tax burden in 2015-16.
Municipal revenue sharing is fed by one per cent of the provincial sales tax collected two years previous.
Drawing PST from the record-breaking 2013-14 fiscal year, the provincial government is spreading a municipal revenue sharing total of $265.3 million amongst municipalities.
This is expected to have a positive impact on 2015 mill rates throughout the province.
At $265.3 million, the 2015-14 revenue sharing total is slightly higher than the $264.4 million shared in 2013-14.
The City of Prince Albert received $7.41 million in 2013-14 -- the same approximate amount they‚Äôre now projected to receive in 2015-16.
‚ÄúThe revenue sharing pool has gone up substantially, so it‚Äôs very good for the city, there‚Äôs no doubt it,‚ÄĚ city manager Jim Toye said.
‚ÄúIt is unconditional money, so we can use it for whatever city expense we need to.‚ÄĚ
This will translate into a lessened property tax burden when it comes to 2015 budget preparations, Mayor Greg Dionne said.
‚ÄúWe‚Äôll factor that in when it comes to the mill rate,‚ÄĚ he said.
Although the concrete total won‚Äôt be released until the provincial budget drops in March, administration will provide city council with a ballpark figure to work with.
City council still plans on finalizing the 2015 budget by the end of 2014, Dionne confirmed.
Although the city‚Äôs elected officials have traditionally used municipal revenue sharing to feed the city‚Äôs general operating budget, and therefore pare down mill rates, Toye said that it‚Äôs always up to city council to decide what they‚Äôll do with the no-strings-attached money.
The revenue sharing pool has gone up substantially, so it‚Äôs very good for the city, there‚Äôs no doubt it. Jim Toye
‚ÄúThe other option to that is, city council can take any increase or reduction and have it go to any particular project, or any particular department,‚ÄĚ he said.
The bump in municipal revenue sharing is indicative of a thriving provincial economy, Dionne said of the PST-fed provincial pool of money.
‚ÄúAs long as people keep spending it‚Äôs pretty consistent,‚ÄĚ he summarized. ‚ÄúI just hope it keeps going up and up and up.‚ÄĚ
The record municipal revenue sharing total follows a slight slump in 2014-15, during which the city received about $205,000 less than the previous year.
Offsetting the present fiscal year‚Äôs municipal revenue sharing shortfall was a Sask. Party decision to keep the education mill rate unchanged from the previous year.
Although the present year saw property owners face a 4.5 per cent mill rate increase, it translated into an average tax bill increase of only 2.5 per cent.
Province-wide, the 2015-16 municipal revenue sharing total of $265.3 million is a 108.4 per cent increase over 2007-08‚Äôs $127.26 million.