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FUNDING PLAN

The library operates as an independent taxing authority, separate from the City of Saskatoon’s municipal property taxes, acting under the provincial Public Libraries Act.

In 2009, the City of Saskatoon and the Saskatoon Public Library created a funding plan to save for a new central library. In 2019, the City Council approved borrowing $67.5 million on behalf of the library, with the library responsible for repaying the loan.

We have been diligently saving for a new central library as a community for over 15 years. Between 2009 and 2026, the library levy increased incrementally. The funding plan factored in the funds required to payback the loan, which has provided an affordable path to a new central library. There are two scheduled levy increases remaining, which translate to $1.60 per year for the average homeowner in 2025 and $1.60 in 2026. This means that when the library opens its doors in 2027, there will be no tax increases to fund the capital project or to pay back the loan.

In 2024, the average homeowner, with an assessed property value of $371,000, paid $243 for library services, including the costs associated with the new central library.