What do you think about the proposed 6 per cent property tax increase for Revelstoke?
After a series of controversial budget discussions that saw Steven Cross resign from his position as a councillor, the city is looking for feedback from the community about the proposed budget for the next five years.
The proposed increase would see the average home owner pay approximately $100 more per year. According to Tania McCabe, director of finance for the city, the average home is valued at $495,000 in Revelstoke.
A guide to the budget document is being circulated explaining how the city operates and manages its finances. Those with concerns are invited to submit feedback by Mar. 4, 2020 at 4 p.m. to either the finance office at city hall or to email@example.com.There will also be a public meeting Feb. 27 at 5 p.m. where people can ask questions and voice their opinions on the budget.
Do you think the city should be setting aside money to pay for projects and equipment replacement?
The budget includes a 4.5 per cent property tax increase to cover lost revenue as well as a 1.5 per cent increase to bolster reserve funds that are used for infrastructure projects such as replacing the chiller in the area as well as road maintenance.
The other reserve fund to see increased contributions is used to purchase equipment such as a blower attachment for the loader and the trackless sidewalk plow.
Though proposed earlier this year, raises for Revelstoke council and mayor, beyond inflation increases, have been removed from the budget.
The document outlines upcoming projects in each department as well as a look at the overall budget for the city.
Do you think there is anything missing from the budget?
This proposed increase comes on the heels of last year’s 4.5 per cent increase and a 4.9 per cent increase , for residential properties, the year before. It also proposes a 4.5 per cent tax increase in 2021, a 6 per cent tax increase in 2022 and a 4 per cent tax increase in both 2023 and 2024, though that will be decided by council in the future and isn’t a commitment if this budget is approved.
|From the January 28, 2020 report to council, at Feb. 10th’s special council meeting, a look at the tax increases in the last five years. (City of Revelstoke)|
The 108 page long term financial plan report is also available on the city’s website for those who want more information.