Average Kelowna taxpayer on the hook for an extra $87 this year
The final numbers have been crunched, so Kelowna City Council is being asked, when it meets next Monday, to approve a 3.78% tax increase for this year.
That’s close to the 3.8% agreed to at preliminary budget time in December.
That means the municipal share of taxes, before grants, is $2,373 for the average residential property valued at $1,009,350, up $87 from last year.
Between December and now, city staff added $1.5 million to the gross tax demand, which included almost $400,000 in lower than expected revenues.
While spending was increased, the tax rate did not because it was offset by $3.2 million in revenue from new construction.
One of the additions since December is $135,000 for a newly completed 4,200 square foot meeting room suite.
The money is to give the room the First Nations name of na’?k’?ulam?n, generally translated to mean “the things that we do,” says the report going to council. The money will also be spent on artwork, décor and furniture to “create a most meaningful space” in the meeting room suite.
Tax payments are due July 4.
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