Lake Country council is reviewing a proposed 6.45% property tax increase for 2025.
A staff report highlights rising costs for policing and transit. These costs, if paid upfront, could lead to steep tax increases in the next one to two years. Staff expects future growth from larger developments, so they recommend using reserves to smooth the impact and stabilize tax rates over time.
Other factors driving the increase include rising service costs and infrastructure sustainability. The report notes that each additional one per cent tax increase generates $223,000 for the district. The 6.45 per cent hike adds about $170 per year ($14 per month) for the average single-family home valued at $955,000.
Excluded from the tax increase is the district香蕉视频直播檚 recent $9.1 million purchase of an 8.44-acre property at 9718 Bottom Wood Lake Road. It was fully funded by grants and reserves.
Lake Country residents saw a 9.52 per cent property tax increase for 2024 and 17.05 increase in 2023.
The district also collects taxes on behalf of other governments (regional district, hospital, library, school etc.) which represents approximately 35-40 per cent of a property owner香蕉视频直播檚 total tax bill.
Council will consider first reading of the 2025-2029 Financial Plan at its Dec. 3 meeting.
