An increase to Kimberley’s Tax Rate won’t be at the expense of business or recreational facilities.
Council approved a 1.9% hike of municipal property tax rates, but only for residents, utilities and light industry.
Mayor Don McCormick says they are trying to keep costs as low as they possibly can, with additional money raised going to a reserve fund.
“Residential increase is 1.9%, which is the municipal rate of inflation. The good news though, is that money is not going in to pay those inflationary costs, we’re doing that in 2017 with savings that staff were able to accrue through their service review,” McCormick says. “We’re taking that 1.9% and putting in reserves for future infrastructure spending.”
McCormick adds the increase is the lowest the city could possibly go, matching the municipal rate of inflation.
He says its important to have funds available for emergency situations.
“We have to pay for a third of all projects that we get grants for, so we have to be able to have that money ready at the time those grants are available. We get that from reserves,” McCormick says. “We also need to have those reserves available for emergencies, things that happen that we just don’t plan on.”
Budget approval is expected sometime before May.
– Kimberley Mayor Don McCormick
– Jeff JohnsonHE