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2.95% tax hike proposed for West Kelowna
A tax increase of 2.95 per cent in 2014 is what's being proposed for the District of West Kelowna.
But according to Mayor Doug Findlater, it won't likely be any higher than that.
Council got a peak at the 2014 draft financial plan at its meeting Tuesday.
General manager of finance and corporate services Tanya Garost said growth is expected to be 1.25 per cent, which would be the same as last year. That level of growth will result in $302,953 worth of additional tax revenue.
Council will debate the budget Jan. 21, 2014. Public consultation on the budget will occur in February before council implements the financial plan at the end of April.
If West Kelowna stays on the path of a 2.95 per cent tax hike, it would be identical to the 2013 increase.
Council will have $457,509 worth of discretionary funds, which can be used to reduce taxes.
Increases to the library budget account for 0.45 per cent of the tax increase and contractual increases for RCMP and fire services have also impacted the increase.
The plan includes $10.5 million in capital projects for 2014 and $4.6 million has been budgeted to put into reserves.
"Council will play with that 2.95 figure," said Findlater, adding it's unlikely that number will be increased.
"I suspect that's the upper limit, but it may come down a little bit as council goes through this line by line."