Cranbrook council has slightly brought down the proposed 2026 tax levy from earlier projections.
The proposed tax levy increase was at 5.67 per cent but is now at 4.99 per cent.
“The resulting financial plan balances funding the complex operating and capital needs of the municipality with the understanding that everything cannot be achieved at once and that cost increases are challenging everyone on multiple fronts,” said Charlotte Osborne, Director of Finance.
“This budget maintains existing services and includes a small increase for the library to maintain operating hours, captures impacts of updated user fees and shifts outdated funding to meet new needs created by changing community expectations.”
The projected increase was decreased because council deferred the interest cost of $92,400 on the Moir Park
development reserve inter-reserve borrowing and increased budgeted building permit revenue.
Council could have lowered it by an additional one per cent, but that would have involved scrapping this year’s one per cent dedicated road tax.
A survey the city conducted ahead of budget season found there was low satisfaction around road maintenance.
The proposed 2026-2030 Five Year Financial Plan
bylaw will be coming back to council in the near future for three readings and adoption.
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