District of Lake Country residents facing 17% property tax increase – Okanagan | 24CA News
Own a house in Lake Country? A large property tax hike is probably going coming your means.
Last month, the District of Lake Country introduced that council members had been mulling a property tax enhance for 2023, one which ranged from 9.95 per cent to 19.02 per cent.
This month, Lake Country council gave the primary studying to the district’s 2023 draft price range, which incorporates an astounding property tax enhance of 17.05 per cent.
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The district says 12.83 per cent is a base enhance, which incorporates elevated policing prices on account of a rising inhabitants (7.08 per cent), street upkeep contract and inflationary contractual and wage price will increase.
According to the district, Lake Country’s inhabitants has surpassed 15,000, which suggests its RCMP cost-sharing ratio has elevated to 90 per cent from 70 per cent.
The remaining 4.22 per cent is for working supplementals.
Lake Country will maintain a particular council assembly on Thursday, Feb. 23, at 7 p.m., concerning the 2023 to 2027 draft monetary plan, with second and third readings happening.
The district says the typical house in Lake Country is valued at $1.087 million, with the typical house owner seeing a median tax enhance of $341.
In its 2023 monetary plan, Lake Country chief monetary officer Trevor James mentioned “the impacts of inflation and rising costs on materials, supplies, utilities and construction costs continue to be felt by the District in both the operating and capital budgets.”
He continued, saying, “the numerous enhance in policing prices is one other instance of among the increasing duties and subsequently prices we face as a rising neighborhood.
“This budget aims to minimize the impact to taxpayers while accounting for the necessary increases to continue to provide the high-quality levels of service the community expects.”
The District of Lake Country has been up entrance in regards to the proposed tax hike, inserting the knowledge entrance and centre on its web site.
Many residents in the neighborhood have requested questions or expressed feedback on Lake Country’s web site concerning the district’s 2023 five-year draft price range.
An overview of the 2023 draft price range, together with public feedback, might be discovered on the District of Lake Country’s web site.
The 2023 monetary plan may also be discovered on the District of Lake Country’s web site.
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