Property owners in the Regional District Central Okanagan (RDCO) will pay an average of $320 more in property taxes for 2023.
The impact on each property owner varies depending on where they live and the value of their property.
Those in Electoral Area East will pay the most at $595, while those in the Kelowna area will pay the least at $188.
The average property tax increase is going up by 6.8 per cent.
The 2023 RDCO financial plan includes operating revenues and expenditures of $61.5 million, an increase of $2 million or 3.4 per cent compared to the 2022 plan.
RDCO’s proposed 2023 capital plan is $18.1 million, an increase of $651 thousand or 4 per cent from 2022.
The largest spending area is in parks services at $7.5 million, which is 41 per cent of the total plan. It includes projects in seven different regional and community parks.
Investment in sewer services and fire services are next at $3.4 million and $2.9 million respectively.
Spending for sewer services will see upgrades to lift stations and the wastewater treatment plant. Spending for fire services includes the purchase of equipment for Electoral Area East and Electoral Area West.
A report to the RDCO board states reserve levels are projected to decrease at the end of 2023, with a goal to build reserves over the next several years.
Comments and feedback about the financial plan can be provided to the regional board by Feb. 28.
Details are available on the RDCO website.