District of Lake Country adopts 2020-2024 Financial Plan

Councillors adopted the plan at council meeting on Tuesday night

The District of Lake Country has adopted its five-year capital plan (File photo)

District of Lake Country councillors adopted their 2020-2024 Financial Plan at a meeting on Tuesday, March 3.

The adoption means Lake Country residents will be faced with a 5.88 per cent property tax increase in 2020 and a $25 increase to the district’s parcel tax from $125 to $150.

READ MORE: Lake Country budget approved

The average Lake Country home assessed at $711,000 will now have to pay an extra $123 dollar per year with the tax increase.

The new 5.88 per cent tax increase is slightly lower than the 6.03 tax per cent increase proposed for Lake Country residents just months ago.

Major capital projects slated for 2020 include $3.3 million to complete road improvements along Bottom Wood Lake Road and $500,000 towards a new fire vehicle for the district.

To view all the entire financial plan, visit the District of Lake Country’s website.


@connortrembley
connor.trembley@kelownacapnews.com

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