RDCO prepares for average property tax hike around $20
Property owners in the Regional District of Central Okanagan will see their property taxes increase by an average of $20 this year.
The RDCO has approved it’s Five Year Financial plan, which sees the operating budget rise 3.5 per cent to $61.5-million in 2023.
“We are making important investments to improve the quality of life for people in the Central Okanagan,” Regional Board Chair Loyal Wooldridge stated.
“We’ve prioritized outdoor space in parks, safer water systems, resources to bolster regional safety and Regional Emergency Management programs. The RDCO recognizes the uncertain economic times we’re all facing. This year’s budget is a fiscally responsible plan that rises less than inflation. At the same time, it keeps pace with growth in the region and maintains the services that residents value.”
The RDCO does not collect taxes directly, but instead requisitions funds from each local government on behalf of their residents and the Province which collects rural property taxes in each electoral area.
The impacts from the RDCO tax depends on the municipality and the value of a property.
Based on that formula, the RDCO plans the average tax per house in 2023 to be:
- Kelowna – $194 (up $20)
- Lake Country – $238 (up $17)
- Peachland – $215 (up $16)
- West Kelowna – $226 (up $21)
- Central Okanagan East – $601 (up $20)
- Central Okanagan West – $464 (up $45)
The RDCO has set aside approximately $18.1-for capital and infrastructure improvements in 2023. This includes $7.8-million for parks, $3.4-million for liquid waste systems, $2.9-million for Fire and Protective Services, and $1.7-million for water system improvements and upgrades.
Some Central Okanagan property owners may be eligible for the Provincial Homeowner Grant or the B.C. Property Tax Deferment Program.