White Rock looking at 3.9% tax increase

White Rock looking at 3.9% tax increase

Budget discussions are to take place this week

City of White Rock scheduled two council meetings this week for the operating budget and draft financial plan.

The finance and audit committee meeting is to be held tomorrow at 5 p.m. in the city’s council chambers. The meeting may continue Thursday, also to start at 5 p.m.

The 105-page agenda notes a “best budget scenario” of a 2020 property tax increase of 3.9 per cent.

However, the last financial plan (2019-2023) projected a 2020 property tax at 2.75 per cent.

“Since then, certain non-discretionary cost increases and unanticipated revenue reductions have put further pressure on property taxes,” the agenda notes. “Staff have undertaken significant review and analysis of the 2020 budget submissions to ensure they are reasonable and to identify other cost reductions and/or new revenues that could help pay for some of these increased expenditures and revenue reductions.”

A 3.9 per cent property tax increase equates to a $130 tax increase on an average detached single-family home and a $49 increase on an average strata property in the city.

The increase has not yet been approved by council.

Monday’s agenda can be found here.