Coldstream taxes set

By Jennifer Smith - Vernon Morning Star - May 18, 2008

The average Coldstream homeowner will be handing over an additional crisp red bill for this year’s taxes. A tax hike of 6.95 per cent has officially been adopted by Coldstream council. The increase works out to approximately $49 more on the tax bill for the average home worth $483,750. The percentage jump is actually down more than two per cent from the original recommendation of 9.17 per cent. But extra money in the bank from 2007 meant the district was able to cut their original figure down. “We did better last year than we expected so that’s where that money comes from,” said Catherine Lord, director of financial administration.Coldstream’s taxes were adopted Monday, just in time for the May 15 budget adoption deadline.