Peachland Council Considers 7.74% Property Tax Increase

Peachland Council Considers 7.74% Property Tax Increase
DATE
May 2, 2024
READING TIME
time

The Peachland District Council is considering a 7.74% property tax increase as part of the proposed 2024 Financial Plan. This increase will be partially offset by revenue from new construction, use of reserves, and prior years' surpluses.

Budget Highlights

The increased revenue will fund various capital projects across Peachland, including:

  • Road remediation projects ($600,000)
  • Improvements to Turner Park ($910,000)
  • Enhancements to Sanderson Dog Park ($100,000)
  • Upgrades for fire department equipment ($81,000)
  • Dock pilings and boat launch works ($109,200)
  • Investments in the active transportation network and pathways ($160,000)
  • Website upgrade, plotter, and server ($67,000)
  • Bonnie Lane pressure reducing station ($650,000)
  • Law Street Reservoir backup generator ($145,000)

The Growing Communities Fund Grant from the province will contribute $1.8 million to these projects, with approximately $1 million remaining for future use.

Final Decision and Next Steps

The proposed budget and tax increase are subject to final adoption at an upcoming council meeting. Coldwell Banker Horizon Realty will continue to monitor the situation and provide updates as they become available.

Subscribe to our email newsletter!

Thanks for joining our newsletter
Oops! Something went wrong while submitting the form.

Related posts

Left Arrow
Left Arrow
Right Arrow
Right Arrow