December 12, 2012 - 4:49 PM
A preliminary glance at Kamloops' five-year financial plan shows an increase in utility prices and property taxes.
Taxes are expected to increase 3.91 per cent in 2013, but city finance director Sally Edwards said they won't increase as much as initially anticipated - about 1.08 per cent less than reported in May's preliminary discussions.
"Most of that (increase) is to capital expenditures which, in some cases, have been inferred," said Edwards.
She says a Kamloops home valued at $340,000 would see a total increase of about $83.70, but when considering that same $340,000 home, homeowners are saving about $45 from the five per cent taxes initially forecasted.
Heading into 2013, the City's priority was to deliver the same level of services and civic infrastructure. While water rates will remain the same, there will be a five per cent increase to sewer and garbage rates.
Budget discussions return to council chambers on Jan. 15. Public consultation will take place on Jan. 22, Jan. 29 and Feb. 5. Tax rates for 2013 will be set on April 9, followed by the adoption of the financial plan and tax rates by May 15.
— Jessica Wallace
News from © InfoTel News Ltd, 2012