Kelowna council finalizes budget with nearly 5% tax increase | iNFOnews | Thompson-Okanagan's News Source

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Kelowna News

Kelowna council finalizes budget with nearly 5% tax increase

Kelowna City Hall

Kelowna city council has finalized the budget for 2024, including an increase to property taxes.

Today council decided to raise the property tax bill by 4.72 per cent which comes out to $112 per year or $9.33 a month for the average residential property in Kelowna, according to a press release from the city. 

For 2024, the city has a budget of $854.9 million, 22 per cent or $191 million comes from tax revenue.

This year the city has adopted a service-based budget which is, “designed to promote a more transparent and strategic approach to resource allocation, leading to more efficient decision making, improved outcomes and better use of resources,” according to the city’s press release.

READ MORE: Kelowna city council gives itself a 35% pay hike

"The adoption of service-based budgeting underscores our dedication to digital transformation and leveraging data-driven insights for decision making,” city manager Doug Gilchrist said in the release. “This approach aligns with our commitment to public progress reporting and also ensures optimal resource allocation for the greatest community impact."

City council is allotting roughly a third of the budget for community safety with four other key investment areas; advance social development to address homelessness, improve public transit infrastructure, address impacts of climate change, and improve how residents do business with the city through better technology.

“We're committed to delivering a budget that not only balances the books but also enriches lives, fosters community, supports business and ensures that our city remains strong, healthy and vibrant for our future generations,” financial planning manager Melanie Antunes said in the release.

Kelowna’s tax bill is coming around in late May which will include other levies collected by the city for the province, regional district, and other public service providers. Property taxes are due on June 1.

Click here for more information on the city’s budget.

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