At this point, taxpayers in Quesnel can expect a modest tax increase in 2018.
The framework for preparing for the 2018 budget was reviewed at this week`s City Council meeting.
It concludes a three-year plan that included a freeze on taxation levels for major industry, increased contributions to the Capital Reinvestment Reserve and cost increases at the level of inflation.
So what does that mean ?
To the average homeowner, it`ll mean a tax increase of approximately 56 dollars for the year.
Director of Finance Kari Bolton…
“Our taxes per average house are still in the lower quartile, our business municipal tax rates are now slightly above average, something Council may wish to look at in the future, and our major industrial tax rate, we were 9th highest in the province, versus 5th we were in 2014.”
Bolton says major industry was responsible for 61.6 of the tax bill in 2014.
That number is now down to 55.7
She says the other major change is that the City is slated to put more than 2 million dollars into the Capital Reinvestment Reserve in 2018, which is an increase of 1.3 million dollars from 2014.
Bolton says this allows the City to do projects like the redevelopment of Reid Street without having to go into debt.