Fernie’s draft 2023-2027 Five-Year Financial Plan is up for a third reading at a special council meeting set for Tuesday night.
The proposed budget includes a 6.8 per cent tax hike, which would mean a $168.25 jump in the annual municipal property tax bill for an average assessed home, worth $880,940.
“The Draft 2023 Budget focuses on maintaining existing services that residents rely on the City to provide every day, while advancing key projects that are in line with Council’s strategic objectives, and planning for critical infrastructure upgrades that will be facing the City in the coming years,” said city officials.
“After taking into account projected revenues, the remaining shortfall stands at $551,843 which is a gap that needs to be closed to bring forward a balanced budget as required by legislation.”
Following the third reading, the budget will be up for adoption at next Tuesday’s council meeting.
Residents can attend the 6 p.m. meeting via zoom, and you can find a link to get involved below.
More: Mar. 21 Special Council Meeting (City of Fernie)