Kimberley’s 2023-2027 five-year financial plan is available for public review ahead of its first three readings in council chambers, with a proposed tax increase of 3.9 per cent.
According to city officials, this increase would work out to a $101 jump in the annual property tax bill for a residential home valued at the average of $506,709.
The city anticipates spending just over $17-million in capital projects in the new budget, which will include the Jim Ogilvie Way Reconstruction and Gymnastics Facility Rebuild projects among a number of others.
The single-biggest project the city has its sights on is the construction of a new wastewater treatment plant, worth about $95.2-million over a three-year span, from 2024 to 2026.
Over $69.8-million (73.33%) of the project cost is anticipated to be covered by grants, with another $23.2-million (24.37%) being funded from borrowing and the remaining $2.2-million (2.3%) coming from Kimberley’s reserves.
The five-year financial plan will be up for discussion during Monday night’s council meeting.
Residents are encouraged to submit their input by emailing [email protected] or through the link below.
More: 2023 – 2027 Five-Year Financial Plan (City of Kimberley)