Wayne Moore - May 2, 2010 / 5:00 am CASTANET:
Kelowna Council will be asked to approve a final budget which includes an average tax increase of 1.62 per cent. The provisional budget, adopted by council in December, asked for a net property tax increase averaging 1.6 per cent. The final budget tax demand of $93.26 million is $171,000 more than requested at provisional budget. Operating requests jumped $129,000 while capital requests increased by $42,000. The tax increase, if approved Monday by council, equates to an increase of a little more than $25 for the owner of an average $486,000 Kelowna home. "In these tight economic times, staff are focused on core services and utilizing current resources as effectively as possible," reiterated City Manager, Ron Mattiussi, in his recommendation to council. "The use of reserve funding and senior government grants have reduced the need for greater taxation funding which is especially sensitive under the current economic conditions. The 2010 Financial Plan provides for the services, infrastructure and amenities that will strengthen the city's position during this difficult period." Much of the additional .02 per cent increase from provisional to final budget relates to additional requests for graffiti mitigation and maintenance for new park construction in 2010. The final city budget must be adopted by May 15
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