Penticton homeowners looking at 2.9% property tax increase next year

Penticton homeowners are looking at a property tax hike of 2.9 per cent next year.

Penticton city council's budget deliberations for 2020 got underway yesterday, Dec. 10, and chief financial officer Jim Bauer said the tax hike would incorporate a two per cent cost of living increase and an additional 0.9 per cent to initiate three council priorities identified earlier this fall.

The proposed increase would add $6.08 to the average monthly residential tax bill.

Bauer said the proposed Penticton tax increase is the fourth lowest amongst 11 other B.C. cities polled, where tax increases ranged from 2.8 per cent to five per cent. He also the increase would be the lowest when compared to Vernon, Kelowna, Summerland and West Kelowna.

In addition to maintaining existing services, Bauer said the proposed budget would also provide funds to begin implementation of council’s initiatives, which include asset and amenity management, community design and community safety actions.

Budget meetings will continue tomorrow, Dec. 12, in council chambers at Penticton City Hall.

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