December 15, 2015 - 11:30 AM
KELOWNA - Preliminary projections place the 2016 budget increase for the City of Kelowna at 4.11 per cent, more than a $6 million increase on taxation.
That number is based on a 2.14 per cent increase for city operations and capital projects, City manager Ron Mattiussi said in a report to council Monday, plus a further 1.97 per cent to finance the second year of construction of the police services building and police contract increases.
Taken together, it adds up to taxation demand of $120.2 million, up from $113.6 million last year. That translates into a municipal property tax estimate of $1,860 based on the assessed valued of $502,340 for the average single family house, an increase of $73 over last year.
“2016 investments strike a balance between renewing existing infrastructure and operations while funding new assets and the requisite staff,” Mattiussi said.
Council and staff will go through the annual budget process Thursday, reviewing new capital and operational budget requests line by line.
The budget deliberations are open to the public and begin at 9 a.m. on Thursday, Dec. 17, in council chambers, Kelowna City Hall, 1435 Water St.
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News from © InfoTel News Ltd, 2015