Kelowna News

Kelowna council approves smaller property tax increase than expected

By John McDonald

Image Credit: Shutterstock

April 30, 2018 - 3:11 PM

KELOWNA - Councillors in Kelowna have approved a smaller tax increase than originally proposed in the fall.

The reduction was made possible by additional revenue from city investments and new construction, according to finance staff.

That includes $2.6 million from new construction tax revenues. Total construction revenues are $722 million, an increase of 17.2 per cent from 2017.

An additional $627,000 came from an increase in expected revenue from Fortis B.C. franchise fees.

Total taxation will amount to $133 million.

To contact a reporter for this story, email John McDonald or call 250-808-0143 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.

News from © iNFOnews, 2018

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