January 15, 2016 - 10:30 AM
KELOWNA - Lake Country stands alone amongst communities in the Okanagan in approving a zero per cent property tax increase.
Lake Country council approved its hold-the-line 2016 budget this week based on a 3.28 per cent increase in property tax revenue due to increased construction of residential and commercial buildings.
Mayor James Baker said in a media release staff looked at the reserve funds and concluded no increase was necessary because of the increased revenue.
B.C. Assessment released the 2016 assessment rolls last week showing Lake Country property assessments up an average 9.12 per cent.
Council also approved spending $4.5 million on various projects, to be financed from reserves which do not affect taxation, including the final phase of water meter installation, upgrade of the Seymour sewer lift station and Carr’s Landing Road improvements.
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News from © InfoTel News Ltd, 2016