Coldstream ratepayers facing 9.7% tax hike
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Numerous factors are contributing to a projected 9.7 per cent tax increase for Coldstream property owners this year.
District staff said it means the typical single family home would pay $155 more for the year, or $1,747 in municipal tax.
The district’s director of financial administration, Jeremy Sundin, said the current budget year has been ‘exceptionally difficult” in terms of operations and the resulting tax increase.
“Nearly half the 2024 tax increase is attributed to factors outside of council’s control, such as police contract increases and general inflation. Other considerations such the temporary tax relief in 2023, loss of daycare revenue, and new shared mapping software were past decisions of council that [are] setting in for 2024,” Sundin said in a report to council.
