I'm curious if any of you have proposed (or final) tax rate increases? We just completed Financial Planning and have a Council approved 2.55% rate increase.
2% general, 1.8% for our roads infrastructure (last increase of a 3 year plan of increases approved by council) and 4.9% for a new firehall as approved by referendum in the last election
We're proposing 3.9% including our annual 1% dedicated road tax and a 1.8% increase resulting from the general fund portion or our $10 million road borrowing program.
Lake Country needed a new firehall - we didn't have enough reserves to just build it outright so we needed to borrow. The borrowing is what requires electoral assent - that can be done through either alternative approval process (AAP) where you put it out and if more than 10% of your voters sign a petition against it, you cannot borrow and either need to rescind the borrowing bylaw or go through a referendum. We skipped straight to referendum, AAP is not popular amongst our politicians. Our referendum passed so we are moving ahead on a new firehall!
Ahhh, got it! Is a referendum a more expensive route to take?
Definitely more expensive to run a referendum - think the cost of an election. Good if you can time it to coincide with the election, expensive if you cannot.
Lets see if I can bring this thread back to life
Powell River is going to be recommending a 5% increase.
I just read on the the news that Port Moody is going to make us all look good and is suggesting a 7%.
Radium Hot Springs is looking at a 2% increase along with a new parcel tax of $140 for all owners. We went to a referendum in 2017 which was passed to build a new Community Centre. Council chose the route of Parcel Tax to pay the debt instead of a tax increase.
Karen Sharp, Village of Radium Hot Springs
Kamloops was at 3.38 before Xmas but we are now down around 2.75 but are proposing some tax based supplemental items and expect we will be around 3 when it's all said and done.
Penticton is proposing a 3.6% increase.
Sayward is looking at a 2.5% increase as directed by Council.
Kamloops is at 2.25 for provisional and we are going to finalize our supplemental (new) asks in early March. If all approved they would add just under 1 %. We are proposing 0.5% for asset management in the supplemental budget.
Revelstoke is sitting at 4.5% in the draft budget going out to the public for comment. 2% for core operating, 1% for capital reserves & 1.5% for new operating initiatives (i.e. staff)
Township of Langley is going to 4th and final reading on April 1st for a 3.85% property tax revenue increase.
District of Summerland is looking at 3.5%. 1.0% to cover operational increases and 2.5% specific for asset management replacement.
Village of Burns Lake 2% for inflation.
Susan Meeds, CPA, CGA
Director of Finance
Village of Burns Lake
District of Lillooet Council approved a 2% increase; however, limiting the Business class to 1%.