Brent Mutis - Vernon Morning Star Published: November 14, 2009 12:00 PM
A report has found Coldstream to be the least-taxed municipality of its size and that could mean a tax hike for the municipality. The paper from the Canadian Federation of Independent Business (CFIB) lists Coldstream as having the most favourable tax arrangement for towns between 7,500 and 15,000 residents. It shows residents pay $501 per capita in taxes, the lowest of 24 comparable communities but didn’t take into account that Coldstream residents also pay for parks and recreation which is administered by the North Okanagan Regional District. The findings were discussed at a Nov. 10 Coldstream finance meeting.
The municipality is going to run short of funds in 2010 even if extra projects aren’t added to the books. Increased taxes may be the solution. “What we’re looking at is setting the budget for 2010 and what we’ve found is that with just staying the course, it will require a tax increase and that’s not for doing anything new,” said Besso. “We’re happy with the levels of service we provide and I think people in Coldstream are happy but if we want to take on any projects like a bike path along Coldstream Creek Road or the Kal Beach crossing, (we won’t be able to afford it),” said Besso. An increase in salaries and unforeseen costs like the legal fees for the water devolution process are some of the reasons for the shortfall.
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