Coldstream braces for tax hike

Brent Mutis - Vernon Morning Star Published: December 15, 2009 7:00 PM

A proposed tax increase of five per cent looks likely for Coldstream homeowners. Council passed a number of recommendations recently regarding the 2010 budget and it’s expected staff will pursue the tax hike to fund infrastructure projects and the legal fees from the ongoing water devolution disagreement with the City of Vernon. “I think it’s a good budget that staff and council put a lot of time and effort into,” said Coun. Pat Cochrane, adding the water devolution process alone is a big expenditure. “That’s roughly a 2.5 per cent increase on its own.” The district is also being more aggressive with road improvements, says Cochrane. “That will pay off in the long term not only in terms of road rehabilitation, but we won’t have to spend money (in the future).” Cochrane believes past councils have simply operated without ever increasing taxes. “You can always find a way to have a zero-increase budget,” he said. “There’s always something that can be cut but at some point you pay a price for that.” Based on Coldstream’s average home price of $485,000, a five per cent tax increase would mean about $50 more per home.

A report published in early November by the Canadian Federation of Independent Business noted Coldstream was the least-taxed municipality of its size. Cochrane believes this raise allow Coldstream’s taxpayers to continue to enjoy the level of services they’ve come to expect.“I think the residents get good value for their tax dollars.”