Following today’s all-day preliminary 2021 budget deliberations, Kelowna City Council has approved a preliminary 4.04 per cent overall taxation demand increase.
A 4.04 per cent increase means an $85 increase, or approximately $7 per month, for the City portion on an average single-detached home tax bill in Kelowna. City taxes are only one portion of a property tax bill, which also includes other amounts the City collects on behalf of the Province, the Regional District, school and library levies.
“Our well-established financial principles and strategies continue to serve us well as we navigate the challenges and unexpected issues that arise due to the COVID-19 pandemic, ” said Kevin Hughes, Financial Planning Manager. “Council has approved the preliminary budget which prioritizes maintaining the essential services that our residents rely on us for daily and renewing existing assets as much as possible, while still keeping an eye on building for the future as we continue to experience significant growth in our community. Most budget requests, 60 per cent, are funded from sources other than taxation such as fees, reserves and grants.”
In the most recent Citizen Survey, 79 per cent of residents shared they receive good value for their municipal tax dollars and the majority, 91 per cent, say they are satisfied with the overall level and quality of services provided by the City.