Taxes for City, Fire and NORD starting to add up.

The 2008 budget was approved by a 5-2 vote on Monday. Voting against the budget were Councillors Cochrane and Beardsell. The claimed tax increase is 2.04% for the average house which is assessed at $418,676. This does NOT include the Fire Taxes for an average house as Vernon remains the only city that has a specified area tax for fire and calculates it separately. (Actually 2 fire specified areas - Landing and old city which have different rates.) I have used the data provided and the table illustrates the effect of the fire tax on an average house assessed at $418,676 using the same improvements %age as was used last year.Tax increase plus fire comes in at 3.64%

Adding in the NORD tax increase which is 8.39% for this average house the final tax increase (excluding Hospital, school, Library and misc) for Old City residents is 5.12% while Okanagan Residents will see an increase of 4.22%.

Your tax increase is dependent on your assessment and whether the land and improvements assessment have varied from the average increase from the last tax year. You can plug in your assessment and use the rates in the table. (Make sure you use the proper rates when the tax is on improvements only (Fire, NORD 2) or on land only as in the case of NORD 1 (S.I.R. program)