A new, nine-year financial plan is being officially adopted by the City of Campbell River’s council.
The plan sees a tax increase of 9.97 per cent, representing up to $189 more in property taxes for homeowners in the city.
According to the city, the new budget is looking towards providing stable funding, along with exploring new and alternative revenue streams, and process improvements to reduce costs.
The plan focuses on four key components such as the base operating budget, new enhanced/ongoing services, operating projects, and capital projects.
The goals of these components include a 7.52 per cent tax increase to maintain city services, a 1.07 per cent increase to provide more funds to meet community demands, and a 0.66 per cent increase for investing in city infrastructure, and strategic initiatives.
According to Communications Manager for the City Alison Harrower, the difference in these tax increases is attributed to Council’s adjustment to inflation.
City Mayor Kermit Dahl says budget deliberations are always tough.
“I want residents to know that council did not make any budgetary decisions lightly and that throughout these discussions residents’ and community wellbeing were top of mind,” says Dahl.
“High inflation, supply chain issues, labour market shortages, and fixed increases to city contracts meant a tax increase was inevitable for 2023, however, I am proud of the work that staff and council completed to minimize the increase while also investing in major needs for the community.”
The city adds the budget is scheduled to be adopted by April 13 as part of the scheduled council meeting.
