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I suggest you plan on spending the same amount of money on your optics as your rifle. It makes a big difference.
I am a big remington 700 fan, though savage makes excellent, very affordable rifles.
If you are interested in target shooting only, then you have a couple options depending on personal preference:
Do you want to enter any competitions?
Do you want to be able to hunt legally, even though it isn't your primary reason for purchase?
Do you have lots of money?
If you are just interested in shooting at the range I would suggest a heavier bolt action, in a smaller caliber. Maybe .223.
The bigger the bullets, the more expensive they are. .223 is real popular and relatively inexpensive. It is very accurate and will be easy on the shoulder.
.308 is an excellent cartridge, and it too is also very popular, and all kinds of .308 ammunition is available from military surplus, to ultra-accurate match loads. It will kick a bit more than .223 and will cost a little extra, but it is very versatile and is perfect for most north american game (except maybe moose, etc.). It is the 'traditional' sniper caliber.
all the others: There are a lot of excellent cartridges out there, but unless you have a specific need (I.E. that moose) they are probably unnecessary for the range and will be expensive (the less popular the round, the more it costs). Also, no need to get some huge magnum cartridge when you are just shooting it at a local flat range. They are not worth the trouble unless you have a pressing need for the added performance.
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"All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act out their dream with open eyes, to make it possible." Seven Pillars of Wisdom, T.E. Lawrence
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