(File photo/Vernon Matters Staff)

By Pete McIntyre

Budget time

UPDATE Coldstream gives initial support for 1.4 per cent tax hike

Mar 9, 2021 | 8:00 AM

UPDATE Mar. 9

Coldstream council has voted to approve two readings of the district’s 2021 financial plan, which includes a 1.4 per cent tax increase.

The budget still needs third and fourth readings before getting final approval.

The 2021-2025 financial package is available on the district’s website at www.coldstream.ca.

The district is welcoming public input on the budget, and comments can be sent by email to treasurer@coldstream.ca before March 31, 2021 at 4:30 p.m.

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Mar. 8 story Council considers 1.4 per cent tax hike

Coldstream ratepayers are facing a potential 1.4 per cent tax hike this year to help the district deal with decreased revenues and higher operating costs.

The district’s financial plan bylaw will be before council tonight for recommended first and second readings.

“For the average residential property (value of $670,423), this increase equates to approximately $35 additional taxes for municipal purposes,” Patricia Higgins, director of financial administration, said in a report to council.

One of the biggest operating increases facing the district in 2021 is contractual wage increases (labour) at $159,380.