Cranbrook is seeking feedback on its proposed 2023-2027 Five Year Financial Plan, which includes an anticipated tax increase of 5.87 per cent.
City officials pin the increase on inflationary pressures that have increased prices across the board and impacted municipal governments just as it has residents.
“Supply chain issues, inflation and rising interest rates have all contributed to this being a very challenging budget year,” said Mayor Wayne Price. “Council appreciates the discipline and hard work of our Finance team and each of our department Directors which enabled us to prepare what we feel is a realistic budget.”
The proposed tax hike would translate to about $12.85 per month, or $155 for the year, for the average residential property assessed at $446,000.
Cranbrook residents are encouraged to take a look at the draft budget and provide their thoughts.
It will be available through the link below, with physical copies ready for pickup from City Hall starting on Monday, Mar. 13.
Comments can be submitted in writing by 4 p.m. Mar. 24. Cranbrook officials said letters addressed to City Hall are preferred, but feedback can be sent via email as well.
A discussion on the proposed budget will go ahead at the Mar. 27 council meeting.
More: Draft 2023-2027 Five Year Financial Plan (City of Cranbrook)