Budget season is underway in Cranbrook as city council begins deliberations on its five-year financial plan.
So far, the projected tax levy increase is 6.5 per cent.
“The 2026 tax increase we started with was 7.97 per cent but we are today at 6.5 per cent,” said finance director Charlotte Osborne.
That would put it very close to last year’s increase of 6.4 per cent.
Budget discussions are just beginning, however, and that number has not been finalized.
“There will be more discussion, including some consideration of options at possible reducing that increase further,” Osborne added.
The impact of a 6.5 per cent increase would be a $15.90 per month increase for an average residential property assessed at $503,000.
With the numbers as they stand now, the city would bring in over $41 million from property taxes.
Be the first to know! Don’t miss out on breaking news and daily updates in your area. Sign up to MyEastKootenayNow News Alerts.
