This winter Kimberley Mayor Don McCormick said that there would be no big surprises when the final budget numbers were decided upon, and that has proven true.
All tax classes in Kimberley will go up 5.33 per cent for the coming year.
Other Kootenay communities’ tax increases were bigger than Kimberley. Cranbrook’s property taxes are increasing 8.65 per cent. The Regional District of East Kootenay will raise taxes 9.5 per cent. Fernie is closer to Kimberley with a 6.1 per cent increase.
Kimberley is one of the only four communities in B.C. that also levies a flat tax. That will reman at $306 for the coming year for improved residential properties, and $386 for unimproved properties.
An average single family home, assessed at $540,885 will pay $2,870.49 in variable and flat taxes in 2024.
Kimberley City Council gave first three readings to the Five Year Financial Plan at their meeting on April 22, 2024. It will return to Council for final adoption in three weeks.
One of the reasons the City of Kimberley was able to keep the increase to 5.33 per cent, according to a report from CAO Jim Hendricks, is that $41,536,900 of new assessment with a property tax revenue of $180,594 was realized last year. Without the increase in non-market assessment change, the tax increase would have been set a 6.8 per cent.
The variable and flat taxes fund 6 per cent of general operating fund expenditures with the remained come from utility user fees, facility user fees, permit and licence fees, parcel taxes and grants.
McCormick pointed out that the 5.3 per cent increase is only to maintain current service levels, as well as reserve contributions, and debt repayment. Projects, he said, are funded out of reserves.
“Cutting projects out does not reduce the variable tax rate increase,” he said.
Coun. Jason McBain pointed out that Kimberley was fairly unique in that it relied so heavily on residential property taxes.
“A 5.3 pr cat increase may seem significant, but we haven’t had to reduce any services, we are chipping away at the infrastructure deficit, and still thriving. My hats off to all the staff. To me, this is a good news story.”