Domtar will be paying a pretty penny for Dryden's financial troubles.Council has approved a move to raise the 2014 industrial tax rate for large industrial businesses by 134-percent, while reducing the residential tax rate.
As it stands now Dryden taxpayers will be paying less this year, but a lot could change.
Mayor Craig Nuttall stresses this is one shot deal.
The provicial large industrial assessment decreased from 41.8-million dollars in 2013 to 15.4-million in 2014, resulting in a 1.3-million dollar yearly loss in revenue for the City.
The change in tax rates has been granted by the Ministry of Finance.