Late additions mean another increase to TNRD budget | iNFOnews | Thompson-Okanagan's News Source
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Late additions mean another increase to TNRD budget

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The Thompson Nicola Regional District is expecting to raise taxes by almost 9% next year.

Last month, it was expected to be lower, but late additions like a raise for elected officials mean the regional district needs an additional 2% increase, according to a staff report.

Although regional district staff were able to cut costs by a few million dollars in its administration and finance departments, inflation and rising union salaries put pressure on the 2024 budget.

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The 8.9% tax increase isn't spread evenly across the regional district. Each area and municipality is taxed differently and use regional district services differently.

Of the $64 million budget, 43% comes from property taxes.

Most of the $13 million in tax revenue comes from the City of Kamloops, at nearly $8 million projected for next year. Electoral areas contribute $11.5 million in total, which is more evenly distributed.

The increase in taxes from each region whether rural or municipal varies widely.

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The smallest increase goes to Wells Gray Country, or electoral area "A", with a 2.11% increase to $672,372. The largest goes to Copper Desert Country, or electoral area "J", which will see a 12% increase to around $2 million.

Directors will vote on whether or not to approve the budget today, Dec. 14.

More information on the regional district budget can be found here.


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