The City of Kimberley is expecting a variable tax increase of under four percent this year, which is at the low end for most municipalities.
Mayor Don McCormick said they are happy with the number this year.
“The budgeting process isn’t quite complete yet but it looks like our variable tax increase this year will be just under four per cent,” he added.
“Council and staff are both very happy with that number. We’re at the low end of what most municipalities have been at.”
He said there is multiple reasons why they were able to keep the number low.
“We’ve spent a lot of time and effort over the last seven to eight years to build solid reserves so that’s part of it. We’ve been able to get projects done without having to go back to the taxpayer,” he said.
“The other part is the slow steady growth in Kimberley. We’ve had a lot of what’s called non-market change contributions to our taxes. That means new construction that has turned into taxes.
That very modest growth we’ve had while modest has been a big, big contributor to our ability to get things done without having to go back to the taxpayers for more money.”
The first three readings of the 2023 Tax Rates Bylaw will take place during the April 11 council meeting.
It will then be up for adoption on April 24.