It’s about to cost a bit more to be a homeowner in Kelowna.
Council approved Monday a budget that includes a 3.94 per cent overall tax hike, which applies to the city portion of residential property tax bills.
This year includes a $7.2-million change in the city’s operating program, which includes increased spending on the RCMP as well as “other working capital,” changes to the cost of transit and to make up for a decrease in gaming revenue as a result of pandemic-prompted capacity limits.
According to the city’s financial plan, the overall taxation demand in Kelowna has reached $166.2 million, up from $157.7 million. It’s an increase of $8.5 million, or 5.4 per cent, and while some of that money will come from other areas, such as new construction, property taxes are being increased as well to help make up the gap.
That portion is one of several included in property taxes in the city. Levies are also added for the library, as well as on behalf of the province, the regional district and BC Assessment Authority.
According to the city, the increase means homeowners will pay about $86.47 more, based on the average bill, per year. The city did not provide specifics on what the average bill looks like before the increase in Kelowna.
Staff say municipal taxes cover about one-quarter of the city’s operational revenues. Some of the money brought in this year will go toward water, wastewater and stormwater projects, while another portion of the funds will e part of the city’s parks and public spaces budget.
Also listed as priorities in the latest budget are the addition of 11 new RCMP officers and advancing climate change initiatives, a news release announcing the property tax increase said.
The full, 638-page financial plan is available online.
