Cranbrook’s five year financial plan is one step closer to adoption, passing three readings during Monday’s council meeting.
The tax levy increase was set at 4.99 per cent, a decrease from the original projection of 5.67 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.
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.
Councillor Mike Peabody said the city’s finance staff put in a lot of work to get the increase as low as it is.
“I just want to say thank you to the finance team,” he said.
“I know this has been a lot of working putting this all together, especially getting the tax levy increase to where it is.”
The 2026-2030 Five Year Financial Plan will be up for adoption at a future council meeting.
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