Lake Country residents, get ready for a 3.13% tax hike

LAKE COUNTRY, B.C. – Lake Country council approved its 2015 Operating and Capital Budget, including a 3.13 per cent tax hike.

That means for the average single-family home (assessed at $492,000) you’ll be paying an extra $50.66.

The Districts 2015 operating budget is $19.3 million with 9.5 million of that for capital spending. The will include $4.8 million for new capital projects including:

• Universal Metering Phase 2 ($1,500,000)
• Arena Ice Sheet Replacement ($1,500,000)
• Bond and Pow Road Improvement ($350,000)
• Parks and Recreation Master Plan ($150,000)
• Fire Department Bush Truck Replacement ($125,000)

The other $4.7 million is allocated for projects that carry forward into 2015.

The tax increase is also taking into account Lake Country’s debt for its share of the CN Rail Corridor.

READ MORE: Expect a tax increase in Lake Country as district moves forward with rail-trail purchase

The District is proposing a Loan Authorization bylaw, which has yet to be approved. Residents have until noon on February 23 to submit an electoral response form against the borrowing model.

“If fewer than 10 per cent of electors object, funds will be borrowed through the Municipal Finance Authority and will be paid back over a 20-year term,” says corporate services manager, Reyna Seabrook.

If you are opposed to the bylaw and an eligible voter in the district, you can fill out an elector response form on the District of Lake Country’s website or at Municipal Hall.