The City of Watertown has a budget in place for the new fiscal year. The city council last night approved a $46.7 million budget that will increase the property tax rate 1.1%. Under the budget, the tax rate will be set at $7.48 per $1,000 of assessed value. The budget also includes raises of 1.5% for both the mayor and members of the council. Also at last night's council meeting, city officials agreed to allow Maggies on the River to host mixers on the city owned deck next to the Newell Street restaurant, but stated that the restaurant will need a permit in order to serve alcohol at the events.