Proposed tax hike at 3.9 per cent

It is still early, but at this point, Vernon ratepayers are facing a projected tax hike of 3.9 per cent in 2020.

That’s the recommendation from city staff which incorporates an annual 1.9 per cent infrastructure levy and two per cent for operations.

“For 2020, a one per cent tax revenue increase will total $405,408,” wrote Debra Law, Director Financial Services, in a report to council.

“The proposed operating budget, which maintains historic levels of service, requires a 1.79 per cent increase in tax revenues. Council has previously endorsed continuation of the infrastructure levy of 1.9 per cent. New tax revenues due to market growth are estimated at $400,000 (0.99 per cent), resulting in a net tax revenue increase of 2.70 per cent.”