Tax revenue sees $1 million increase in Lake Country

The District profitted just under $500k

Tax revenue sees $1 million increase in Lake Country

The District of Lake Country increased their tax revenue by over a million dollars for the 2018 fiscal year.

This is mostly the result of a 3.5 per cent increase that was introduced at the beginning of the year—1.5 per cent for the district’s transportation program and a two per cent general increase for inflation.

“The two per cent increase was to maintain operations at the same level which they were at the previous year,” said Lake Country chief financial officer Tanya Garost.

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As well, another portion of the sizable 2018 tax revenue came from a large new growth tax margin, which saw a 5.32 per cent increase, or about $500,000 of total revenue.

In comparison, the new growth tax margin for 2017 was under three per cent.

New growth tax fluctuates depending on development in the district and the assessments done by the province on new houses, subdivision lots and other various infrastructure developments.

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Even with the added tax revenue, which equated to $1,025,437, the government was still under their estimated expenditure by $1.5 million.

Garost said this is mainly due to a fluctuation in RCMP officers and their salaries.

The Lake Country RCMP detachment, although rarely using its full force, has 12 members, but only nine or 10 consistently work, due to leaves from work.

Overall, the government brought in an approximate $485,000 more than what they anticipated, reaching a total revenue of over $42 million.

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David.venn@kelownacapnews.com

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