The Regional District of Central Okanagan is in the process of crafting its budget and its impact on taxpayers in 2023.
Unlike municipalities, the regional district does not have one tax rate. The RDCO has more than 80 individual services provided and paid for by different combinations of taxpayers across the Central Okanagan. Each service budget is separate, and all assets, revenues, expenses, reserves, surpluses, or deficits remain within the service.
The RDCO board will on Feb. 2 take a first look at the budget, which presents an overall increase in operating revenues and expenditures for 2023 of $2 million, or 3.4%.
After accounting for growth, the overall tax increase for the average residential property owner will be 6.8%.
The capital plan portion of the budget is $18.1 million, representing a 4% increase. This spending is funded predominantly through reserves.
Some capital purchases included in the budget include a new regional marine rescue boat ($500,000), upgrades to Mission Creek Regional Park ($695,000) and renovations to the RDCO offices ($253,000).
In person comments on the budget will be accepted at the Feb. 16, 6 p.m. meeting or by mail or email by Feb. 28. Budget approval will take place on March 16 and will be finalized on March 30.
More details are here.