Kelowna council approves smaller property tax increase than expected - InfoNews

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Kelowna council approves smaller property tax increase than expected

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April 30, 2018 - 3:11 PM

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

Instead of 3.6 per cent, Kelowna property owners will pay a 2.99 per cent, the lowest increase since 2014.

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.


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News from © InfoTel News Ltd, 2018
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