Penticton hikes taxes for 2014

Penticton’s city council passed the 2014 budget today, with a two per cent tax hike.

Penticton’s three year holiday from overall tax increases came to an end today when council passed the 2014 budget, including a two per cent tax hike.

For the average residential taxpayer, that increase will translate to approximately a $27 property tax increase, according to chief financial officer Colin Fisher.

“I am very comfortable with the two per cent tax increase. I know the public has been saying they find that as a comfort level as well,” said Mayor Garry Litke. “It’s a tax increase the public has been expecting and can tolerate. I do not agree with the point of view we dip further into our reserves in order to balance the budget.”

This morning, the final day of budget deliberations, Penticton city council still had to deal with a $935,000 shortfall in order to balance the budget, down from $1.2 million at the start of the process. Through the course of the day, that was whittled down to $682,000.

Unlike previous years, council voted not to draw on the city’s general surplus reserve fund in order to balance the budget. For 2014, they will only be drawing $185,000 from the reserve to make up the shortfall not covered by the tax increase. That reserve is currently about $5.4 million.

“Those reserves are not going to be sustainable over the long term if we continue to use them to balance our budget,” said Litke. “We do need that in the event of a rainy day. It’s not great, but it’s adequate and to continue to deplete that reserve would be a mistake.”


Just Posted

Shinedown to debut new music in Penticton

Penticton concert-goers will be the first to hear a new song from Shinedown’s sixth album

Mudslide at South Okanagan golf course

A mudslide occurred at Fairview Mountain Golf Club in Oliver

SD67 fills 2-year gap in Aboriginal education administration

District also announces shuffling of school admin, with Princess Maggie VP heading to Pen High

Prescribed burns to close Penticton channel path

The burns will close the path from 6 a.m. to 9 p.m. Wednesday and Thursday next week

What’s happening

Find out which events are taking place in the Okanagan and Shuswap this weekend

Canucks sing the Blues as they fall to St. Louis 4-1

Berglund nets two, including the game-winner, to lift St. Louis over Vancouver

Calving season brings hope for Cariboo ranchers

Still a lot of work ahead to recover from the wildfires

Canada’s Kaetlyn Osmond wins figure skating world title

The 22-year-old fwon the women’s singles crown with her Black Swan routine

B.C. pooches celebrate National Puppy Day

Check out some of the submissions from around B.C. for National Puppy Day 2018

Similkameen residents face long wait for bus solution

Scheduling key for Similkameen bus riders in proposed B.C. Transit Penticton to Kelowna expansion

Rainstorm causes road flooding in Naramata and Okanagan Falls

Flood assessments conducted in Okanagan Falls and Naramata

Photos: Salmon Arm celebrates Paralympic champion Natalie Wilkie

Hometown hero welcomed home with parade, recognition ceremony at city hall

Most Read