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RDEK adopts five year financial plan

The Regional District of East Kootenay has approved its five-year financial plan with a 2023 operating budget of $41,050,352.

Board chair Rob Gay says this budget will mean an increase in taxes but it will depend on where you are.

“We endorsed the five-year financial plan which will see an average tax increase of 9.3 per cent across the regional district, but you really have to look carefully at where you live because that doesn’t translate to 9.3 per cent to everybody,” he said.

“For example in Cranbrook it equates to $10 a home and only about four per cent. It’s very different depending on the services you receive from the regional district.”

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RDEK officials said the operating budget includes a two per cent increase for the HR Implementation Plan, a three per cent increase in the building reserve fund and a 4.3 per cent increase for operational and inflationary changes.

In early April, tax calculations should be completed once 2023 revised assessed values are available.

Some highlights from the capital budget include a new transfer station in Radium Hot Springs, the construction of a new composting facility in each of the RDEK’s three subregions and a new fire hall for Hosmer.

 

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