Hamilton taxpayers are now facing a 1.2% increase.
That amounts to about 42 dollars for the average homeowner.
Amongst all Ontario municipalities that have approved their 2012 budgets, it would be the smallest increase in the province, lower than Windsor's 1.4% increase.
General Manager of Finance Rob Rossini suggests they are close to a final number.
He notes that politicians would have to find another 10 million dollars in savings to get to zero, something that is "not really possible from what I'm looking at without impacting services".
Another budget meeting is scheduled for Tuesday at City Hall.