(ADAM PROSKIW / iNFOnews.ca)
November 27, 2024 - 1:33 PM
The City of Kelowna is preparing its budget for 2025, and has proposed a property tax increase of 4.36 per cent.
The city plans on increasing property taxes by $108 a year or $9 per month, which amounts to a 4.36 per cent increase, according to a press release from the city.
This year’s increase is slightly less than the 4.72 per cent tax increase from last year.
The preliminary budget is going to city council at 9 a.m. on Dec. 5.
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Kelowna gets roughly 25 per cent of its annual budget from property taxes, and the rest come from user fees and charges, reserves, surpluses and grants.
The tax increase doesn’t go into effect until the city officially adopts the budget in April.
The city said it plans on doubling investment in capital projects, and it has to respond to things outside of its control like cost increases to RCMP contracts and provincial transit.
Click here for more information about the budget.
Click here to watch city council meetings.
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