Kelowna's preliminary 2025 budget proposes 4.36% property tax increase

Photo: Contributed

Kelowna city council will mull over a 2025 budget that includes a property tax increase of 4.36 per cent when it sits for a day of deliberations.

The budget, which will be presented to council next Thursday, hits on the number projected as part of the five-year financial plan released in May.

And at $203 million, it would be the first budget to surpass a $200 million tax demand.

The budget includes a one per cent public safety levy endorsed by council in 2023.

It also includes accelerated investments in capital projects, more than doubling the annual rate of investment from prior years to enhance service levels and safeguard against inflation, the city stated in a news release.

“The budget is also responsive to cost pressures beyond city control," the city release says.

“Emergency services like fire and police, for instance, have seen increased demand given provincial changes to ambulance services. And, our costs for contracted RCMP and provincial transit services have also steeply increased.”

The city says the budget prioritized community safety, housing supports, active and road transportation, sustainability initiatives, economic development and digital transformation.

If adopted as is, the budget would result in an increase of $108 for the owner of a single detached home with an average value determined by BC Assessment.

The tax demand accounts for only about 25 per cent of the money needed to run the city each year.

The bulk of revenues come from other sources such as user fees and charges, reserves, surpluses and grants.