The Regional District of East Kootenay adopted the 2023-2027 financial plan during a board meeting last week.
For the 2023 budget, the overall tax levy increase averages at 9.3 per cent, however, the exact rate will vary between each municipality and electoral area., depending on what RDEK services each jurisdiction utilizes.
“Unlike a municipality that has one boundary and one set of taxpayers, different areas of the RDEK require different services and these are paid for only by the taxpayers of each specific service area,” said RDEK board chair Rob Gay. “While it is tempting to look at increases in terms of percentages, that doesn’t tell the true story. You need to understand what services you receive and what that translates to in order to have the full picture of how the budget will impact you.
“For example, residents in the City of Cranbrook will see a 4.3 per cent increase in their requisition for the RDEK which works out to $10 on the average $536,000 residential assessment. Residents of Area B (South Country), will see a 5.6 per cent increase overall in their requisition and a $21 increase on a $536,000 residential assessment because they receive different services.”
Tax calculations are expected to be complete by early-April when 2023 revised assessed values are available.
The 2023 operating budget totals $41,050,352, which results in an increase of $30 on an average $536,000 residential assessment across the region.
“It is important to understand that there is a difference between the numbers in the budget and the effect those numbers will have on individual tax rates. The RDEK offers over 100 different services, and residents will be affected differently, depending on the municipality or electoral area in which they live,” says RDEK Board Chair Rob Gay.
The operating budget includes a two per cent increase for the HR Implementation Plan and a three per cent increase in the building reserve fund, both of which were approved by the RDEK Board in 2022, and a 4.3 per cent increase for operational and inflationary changes.
The capital projects budget is just over $17 million, which includes the Fairmont Flood & Debris Control Cold Spring Creek upgrades (100 per cent grant funded), a new transfer station in Radium Hot Springs, the construction of a new composting facility in each of the RDEK’s three subregions, a new fire hall for Hosmer (100 per cent funded), and three projects on the East Side Water system.
Other budget items include $85,000 for a Poverty Reduction Coordinator that will be based out of the City of Cranbrook and $15,000 for the East Kootenay Divisions of Family Practice for physician recruitment.
The RDEK has summarized the financial plan with a snapshot, which includes the plan’s impacts on the electoral areas and municipalities along with capital budget highlights. The snapshot of the adopted plan, along with the full plan and some other resources can be found online.