Property taxes in Kelowna projected to rise by over 4 per cent next year | iNFOnews | Thompson-Okanagan's News Source

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Property taxes in Kelowna projected to rise by over 4 per cent next year

December 03, 2020 - 5:05 PM

Kelowna's proposed budget for 2021 includes a property tax increase of 4.27 per cent.

A property tax increase of 4.27 per cent would cost the owner of the average single-family home an extra $90 a year.

Kelowna city council will get an overview of the budget at its meeting on Monday, Dec. 7.

“Our population is anticipated to increase by approximately 50,000 residents by 2040,” reads a media release from the City of Kelowna. “To keep pace with this growth, we must continue to follow our well-established financial principles and strategies and make sound decisions that keep us well-positioned for recovery post-pandemic while simultaneously ensuring that Kelowna continues to be a welcoming, progressive and resilient city.”

City staff are recommending that council agree to hire eight new RCMP officers and six other “safety related positions.”

There is also a recommendation to spend $12.7 million to develop more parks and green spaces, $3 million to reduce carbon emissions and $1.9 million in transportation projects.

“The City has received $7.88 million in emergency financial assistance through the B.C. Safe Restart Program and has put over 30 per cent of these funds to use mitigating 2020 pandemic impacts, such as gaming revenue shortfalls, COVID-19 related spending and to support the Kelowna International Airport,” read the release. “The remaining portion will address shortfalls and emergency planning and response for 2021.”

Council will spend much of the day next Thursday, Dec. 10, reviewing the draft budget. While a preliminary tax increase will be set that day, the final figure won’t be known until the spring when things like the value of new construction will be factored in.

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