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Kelowna property taxpayers could get a slight break on the increase proposed by council following its budget deliberations in December.
According to a staff report on the final budget, set to go to council for approval on Monday, the increase has dropped to 3.78% from 3.8%
The 2023 budget increase, which will see the city collect $176.6 million in general taxation revenues this year, will mean the owner of a residential property with an assessed value of just over $1 million will pay and extra $87 on the municipal portion of their 2023 property tax bill. The municipal portion of the tax bill on a house with the assessed value will be $2,373 this year.
The deadline for the city to finalize its 2023 budget is April 30.
The city says the largest final budget request affecting taxation is for the renewal of the H2O Aquatic Centre’s air handling system but that was offset by an increase in new construction revenue and the FortisBC fee revenue, hence the slightly lower increase.
“The City of Kelowna’s strong financial management and clear budgeting practices continue to allow the delivery of essential services residents expect while maintaining, expanding, and building infrastructure that makes Kelowna a great place to live,” says the staff report.
