Vernon homeowners looking at almost 5% tax hike for 2020 | iNFOnews | Thompson-Okanagan's News Source

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Vernon homeowners looking at almost 5% tax hike for 2020

From right: Councillor Brian Quiring and Dalvir Nahal at the Nov. 25 council meeting.
December 11, 2019 - 12:15 PM

Vernon residents are looking at a property tax increase just shy of five per cent next year.

Vernon council unanimously approved a 4.91 per cent property tax increase yesterday, Dec. 11, following deliberations for the 2020 budget that lasted two full days.

The budget, endorsed by council, will cost the average Vernon household $73 more a year. The figure is based on a house assessment of $441,246.

The tax increase was proposed to be slightly higher at 5.03 per cent but council decided to adjust where funds for a $50,000 grant given to the Historic O'Keefe Ranch came from, dropping the tax increase by roughly a tenth of one per cent. The heritage museum's grant will now come from a casino reserve.

While the tax increase is higher than the rate of inflation, the increase is lower than the 2019 tax increase which was 7.1 per cent.

At its next meeting, Dec. 16, Vernon council plans to discuss the location for a third public washroom downtown, which, if they decide to locate the washroom at the downtown bus station beside a second washroom, the annual operating budget will be reduced slightly.

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News from © iNFOnews, 2019

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