Thursday, December 09, 2010
Tax hike trimmed
Coldstream politicians are striving for a 0.5 per cent tax increase for 2011. But those numbers are still preliminary as council continues its budget process. “We’re still discussing the budget, it could still be changed,” cautions Coun. Maria Besso. Coldstream was able to come up with a minimal increase (two per cent was previously projected) by taking into account new growth revenue for 2011. Along with an expected small municipal tax increase, Coldstream residents will likely see a decrease in their property tax bill. Homeowner exemptions will be increasing to the northern and rural area home owner benefit by $200 – basic exemption will go from $570 to $770. Coldstream’s 2011 to 2015 financial plan will be introduced Jan. 24 at the regular council meeting. Then residents will be able to review and comment on the budget at an open house Feb. 16 from 6 to 9 p.m. Public comments will be reviewed by council before the financial plan is adopted in early to mid March.
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