Kelowna sets final tax rate at one per cent- Average homeowner to see increase of $18

May. 07, 2012 http://www.kelowna.ca/iNews/scripts/nws002.cfm?News_ID=2940

City Council approved the final 2012 budget on Monday, with Kelowna taxpayers seeing a municipal tax increase of 1.12 per cent.One per cent of the increase covers additional costs in protective services which provides for 11 new members to Kelowna RCMP detachment "We're improving protective service resources over the next four years by adding a one per cent tax increase each year to provide the necessary support in this important area of service delivery," says City Manager Ron Mattiussi. "It was a difficult decision given the current economic climate, but a decision that will enhance the safety of residents and reflects our core values in development of a safe, vibrant and sustainable city." A tax increase of 1.12 per cent translates into an additional cost about $18 for the owner of an average $486,000 single-family Kelowna home. The tax impact for business will also be 1.12 per cent. Residents can estimate their 2012 municipal taxes using the online calculator at kelowna.ca/propertytax. Property tax will provide $99.5 million to Kelowna's overall $419 million budget. Municipal taxation funds police and fire services and is supporting the revitalization of Bernard Avenue, construction of the Parkinson Activity Centre, transit upgrades and restoration of Knox Mountain, Waterfront and City Parks "The City of Kelowna is in a sound financial position," says Keith Grayston, Director of Financial Services. "By taking a deeper look inside the budget process residents can see we fund parks, pathways and roadways, maintaining service levels while looking at the long-term financial impacts." For the past decade, the City has received the Distinguished Budget Presentation Award annually, most recently for the 2011 Budget. Presented by the Government Finance Officers Association, the award recognizes the City's commitment to meeting the highest principles of governmental budgeting. View the 2012 budget at kelowna.ca/budget.