News

Property tax hike could reach 2.47%

Kelowna tax payers may see their property taxes bumped up 2.47 per cent when the 2011 bill arrives, which is slightly higher than anticipated.

“The recommendation for a net property tax increase averaging 2.47 per cent is required to support the current level of services delivered to the citizens of Kelowna,” reads a report from city manager Ron Mattiussi, where he explains the departure from the earlier tabled provisional budget, where the hike was 2.05 per cent.

“In these tight economic times, staff are focused on core services and utilizing current resources as effectively as possible. The use of reserve funding and senior government grants have reduced the need for greater taxation funding which is especially sensitive under the current economic conditions.”

The revised financial plan provides for the services, infrastructure and amenities that will strengthen the city’s position during economically difficult times, he said. One of the main indicators of tough times, and causes for a hike, are decreased city revenues from new construction.

Final new construction taxation revenues, based on the revised assessment roll of $1.19 million, which his a decrease of $207,5000 from the value estimated at the provisional budget.

The original estimate was based on BC Assessment preliminary information which pegged new construction for 2011 at $300.4 million, a 36. 8 per cent decrease from 2010 assessed levels.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

New tree fruit replant program unveiled in Kelowna by B.C. premier
 
Ringing start to Christmas Kettle campaign
 
Owls sweep up four valley titles
North Shore Hall to receive major upgrade
 
Mt. Sentinel boys volleyball place sixth at provincials
 
Province waiting for Boonstock payment
Victims of Montreal Massacre honoured at vigil held in Prince Rupert
 
Former fire chief wins director’s seat in Area B
 
Top option identified for institutional composting in Nelson

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 21 edition online now. Browse the archives.