By James Peters

New revenue projection helps deflate proposed City of Kamloops property tax increase

Feb 1, 2019 | 9:49 AM

KAMLOOPS — The latest update in the 2019 City of Kamloops budgeting process is a positive one for taxpayers feeling tapped out.

City staff are proposing an average tax increase of 2.26 per cent, down from the 3.38 per cent proposed when the budgeting process began.

In a report coming to council at next Tuesday’s special budget meeting, staff say there has been a recalculation of certain costs, along with a revised estimate of tax revenue coming from growth.

However, the 2.26 per cent increase is required before council considers any of staff’s supplemental requests.

After council discusses the budget next Tuesday, a public budget meeting is planned for next Thursday evening at Sandman Centre’s Valley First Lounge.

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Council has set a March 5 deadline to finalize its supplemental approvals, and will officially set the tax rate on April 16.