Council gave three readings to the 2011 tax- rate bylaw at Tuesday’s meeting at City Hall.The bylaw sets the taxation (mil) rate for different tax classifications. Council also passed a resolution to develop objectives and a policy for tax distribution. Approximate rates are as follows: Residential – $5.31 per $1,000 of assessed value. Business – $11.20 per $1,000 of assessed value. Light industry — $34.72 per $1,000 of assessed value. Major industry — $88.43 per 1,000 of assessed value. Rec/Non-profit — $14.83 per $1,000 of assessed value. Farm — $18.40 per $1,000 of assessed valueUtilities - $40 per $1,000 of assessed value.