Next year’s City budget will include a lower tax increase and fewer service cuts than originally proposed.
Pressure on the City’s budget was relieved by using a portion of the provincial COVID Safe Restart grant and additional property tax revenue related to new construction.
This funding allows the City to replenish reserves and bolster the base budget. Both were depleted by COVID-19-related revenue loss. These adjustments dropped the 2021 tax increase to 1.95 per cent, which equates to approximately $41 on a Campbell River home of average value (estimated at $442,000). Campbell River tax payers will also see reduced taxation for regional solid waste and hospital services, for anticipated savings of approximately $80 on a home of average value.
“Council is deeply concerned about the financial impact of the pandemic on residents and local businesses,” says Mayor Andy Adams. “Thanks to the additional funding, savings across all departments and the stability built into our 10-year financial plan, the City has successfully minimized the proposed property tax increase. Council will meet early in the new year to carefully consider the best use of the remaining provincial Safe Restart grant to benefit our community.”