Vernon city council passes 2025 tax rate, hike lessened slightly

Photo: Castanet file photo

Vernon's City Hall entrance

Property taxes in Vernon are still going up – but not as much as originally thought.

The City of Vernon has approved its tax rate for 2025 and because the city’s non-market increase from the BC Assessment increased slightly, residents will pay less than the originally floated 11.06 per cent.

Instead, residents will see a 9.91 per cent increase in taxes, or about $227 for a total of $2,512.

Businesses will see a 10.39 per cent increase, or about $876 for a total of $9,306.

Coun. Brian Guy asked about finagling the percentages to meet a bit more in the middle, but Vernon director of finance Elma Hamming explained the numbers are too minute to do so.

"We use five decimal places to make those percentages work and once you start moving just a fraction of a percent, then you've got a big disparity between assessment classes,” said Hamming.

She explained the city’s hands are somewhat tied by variables like the amount of revenue they need to collect via the approved budget, and the BC Assessment.

Notably, a second option was presented to council which would have residents and businesses paying an equal tax rate of 10.05 per cent.

Coun. Kari Gares spoke in favour of option two to support businesses in Vernon.

“I know we're trying to do this from a residential standpoint, to keep the residences as low as we possibly can,” said Gares. “But the commercial businesses have actually been taking the brunt over the last couple years on what those costs are.”

She noted the increase would be minimal to residents, $3, but noticeable to businesses, $30.

Despite this, the first option passed which has residents paying 9.91 per cent and businesses 10.39 per cent.