A dividend that Hydro Ottawa must pay to the City of Ottawa could push property tax back below five per cent.
The utility company will pay the city a dividend of $16.3 million this year - an amount that is $2.3 million more than the city had budgeted.
The bill is almost exactly the same amount of money needed to make up for Ottawa's most recent tax hike.
Last week, city councillors said property taxes would rise 5.2 per cent for those who own property within the city and 6.2 per cent for those who own rural property.
The unexpected tax increase was blamed on a provincial cap on commercial taxes.
Council is expected to vote on the issues sometime next week.
