Saskatoon city hall debt is on track to reach $480 million, even before any money is borrowed for a new arena, but concerns may be overblown.
According to 2023 budget estimates, which were somewhat altered due to inflation, the city will spend about five per cent of its operating budget, or $30 million, on servicing debt, which includes principle and interest.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.
People see a direct connection between their property tax increases and the money needed to service the debt. That’s only partly true.
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