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Vernon 2:39pm - 235 views
Property taxes for Regional District of North Okanagan residents are going up by a weighted average of 12.3 per cent – but amounts vary greatly depending on which member municipality homeowners live in.
The RDNO has been tackling its 2025 budget for months, and a consolidated version of the budget was approved on Wednesday for inclusion in the financial plan which will require further approval.
Property tax increases are highly variable within the RDNO, and a report broke down the increase for different jurisdictions based on the average homeowner.
The average Vernon property owner will see the biggest tax hike, with a 21.8 per cent increase.
Coldstream is set to pay the second most, with a 17.7 per cent increase for 2025. Enderby has the only other double digit increase with a 10.1 per cent jump.
Other member municipalities have the following average tax increases:
- Electoral Area B - 8.5 per cent
- Electoral Area C - 7.4 per cent
- Spallumcheen – 6 per cent
- Electoral Area D – 4.3 per cent
- Electoral Area F – 3.8 per cent
- Electoral Area E – 0.7 per cent
- Armstrong – 0.6 per cent
Lumby is the only member municipality to see a tax decrease this year with their contribution going down 1.3 per cent.
RDNO taxes are split between municipalities based on the assessed value of properties from the BC Assessment Authority.
Taxes also vary based on the services provided in a homeowner's jurisdiction and the subsequent member municipality’s budget.
“The single largest impact to the 2025 budget is the financial strategy for the construction of the Greater Vernon Cultural Centre as a result of the $28 million in long-term borrowing and the related short-term plan,” reads a budget staff report.
“The financial strategy equates to a $3.1 million increase in the tax requisition and represents the majority of the overall Regional District increase.”
The total proposed 2025 RDNO budget is $134.6 million, up from $130.2 million in 2024.
The total 2025 tax requisition is $25.2 million, up from $22.0 million in 2024.
