Kelowna homeowners will see their property taxes rise by 3.8 per cent this year.
Based on the average value of a single detached home in Kelowna, council approved what will amount to an $86.88 increase to annual property taxes.
The 3.8 per cent increase — or $7.24 per month — includes the introduction of a one per cent public safety levy to fund the addition of six new RCMP members, four firefighters and four bylaw officers.
“Each year we are tasked with balancing the community’s interest in maintaining existing levels of services while planning for significant infrastructure needs,” city manager Doug Gilchrist said in a press release.
The new public safety levy is something Gilchrist said will provide a dedicated and predictable ongoing funding source for one of the city’s highest community priorities.
The city said in a press release Friday morning that it is spending $25.4 million in transportation projects, including $7.9 million in active transportation networks; $6.2 million for land acquisition to support the future extension of Sutherland in the Landmark area; $4.5 million in transportation infrastructure renewal; $3.3 million for road improvements on the Stewart Road West corridor; and $1.2 million for upgrades and expansion of the Okanagan College Transit Exchange in partnership with BC Transit.
Spending on social wellness includes funding for the outdoor sheltering Community Development Coordinator and the extension of the Peer Navigator program at Parkinson Recreation Centre to support people experiencing a variety of vulnerabilities, including those with lived and living experience of homelessness and/or substance use.
City funds will also be designated to building capacity for improved engagement with Indigenous communities on community planning projects, and a Housing Needs Assessment that will serve as the foundation for an update to the Healthy Housing Strategy focused on enhancing housing diversity and attainability.
In addition to protecting existing infrastructure and planning for growth, other budget priorities include digital transformation to improve the City’s operational efficiency and addressing climate change through the reduction of greenhouse gas emissions.
The total 2023 preliminary budget is $528.6 million.
Of that, the gross taxation demand is $175.1 million. Once budget carryovers are approved, and the financial plan is finalized in April, only approximately 25 per cent of the city’s 2023 operating and capital costs will come from annual taxation.
The final tax demand will be decided by council in April 2023.
To review the 2023 financial plan, subscribe for budget e-updates and for more information about the City of Kelowna budget, visit kelowna.ca/budget.