PENTICTON — After three years of zero increases, taxes are going up in Penticton.
The city says this year’s budget includes a two-per-cent tax increase.
“The City of Penticton did not raise taxes for three years, cutting spending even when faced with significant cost pressures from contracts and inflation,” says mayor Garry Litke.
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The change in 2014 means a $26.98 increase in annual taxes for the average assessed home of $350,000, or $2.25 per month.
The city says some of the extra tax revenue will be invested into roads and the community.
“Our residents have said strongly they want to see continued investment into their roads and community. This budget balances the need for sound infrastructure and prudent financial management,” says Litke.
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