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By Victor Kaisar

TNRD 2025 Budget

TNRD 2025 budget approved in principle with 7.86 per cent tax increase

Dec 16, 2024 | 5:00 PM

KAMLOOPS — The Thompson-Nicola Regional District’s (TNRD) Board of Directors have approved the 2025 budget in principle, though work to further reduce the impact to taxpayers is still ongoing.

Residents are looking at a global tax increase of approximately 7.86 per cent next year, down from the previous estimate of 8.5 per cent.

“Essentially you would be looking at a 12.2 per cent global taxation increase but we are bringing in 4.4 per cent of reserve funds to offset those costs,” TNRD Chief Financial Officer Carla Fox said.

The budget is forecasting a net requisition of $29,327,326 in 2025, up from $27,190,548 last year. Overall revenue and expenses are down slightly from $62.7 million in 2024 to $62.0 million in 2025.

According to Fox’s report, most of the increase ($1.1 million of the $2.1 million) is due to the previously-approved negotiated wage increases with further increases largely due to a reduction in fee revenue, decreased development, and a reduction in surplus amounts.

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“We continue to face rising costs and demands on services, infrastructure, and operational budgets as we respond to the challenges of a recovering economy and ongoing cost pressures on service delivery,” Fox wrote. “With increasing inflation across the board declining surplus amounts further exacerbate the issue of required increased taxation.”

“Targeted efforts were made to reduce overall expenditures with a reduction in legal, communications, furniture and equipment, and supply costs across the organization. Utility and insurance costs have seen increased rates which have increased costs where applicable.”

The 2025 TNRD Capital Budget totals $26.5 million, though more than half that amount ($14.2 million) is for projects that were approved in 2024 but not completed by the end of the year. The fully funded 2025-2029 Capital Plan being requested is $68.6 million.

Exactly how much people pay into the TNRD in 2025 will depend on where they live, and whether they get certain services from other local or higher levels of government.

“I know I get asked that all the time. How can we keep asking our constituents to pay these higher tax rate increases,” Fox added, during a lengthy presentation Thursday (Dec. 12).

“I can tell you we’re having very strategic conversations at this side of the board, trying to look at ways to do things more efficiently, more effectively, doing more with less.”

While the budget was approved in principle, the Board of Directors also asked Fox to see if taxes paid by residents in the TNRD’s 10 Electoral Area could be reduced further. Those discussions will take place relatively quickly as the budget has to be finalized in March.

“We’ll update the board along the way. I’m certainly hopeful we can find additional savings,” CAO Scott Hildebrand said.

“The more reserves we take from, the harder it becomes in future years where you don’t have that same opportunity to use reserves. If the status quo stays the same and services stay the same, then taxation is you’re only way [to bring in extra revenue] unless you change something.”

Residents with questions are being told to contact the TNRD Finance Department by email or by using the online form here.

“We continue to share information across all of our communication channels to ensure that we’re answering questions and providing resources to our residents that are looking for more details,” Hildebrand added.

You can find the provisional 2025 TNRD budget and the 2025-2029 five-year financial plan here.