By Vanessa Ybarra

Kamloops property tax rate ‘doing well’ compared to other cities

Nov 11, 2017 | 9:47 AM

KAMLOOPS — Kamloops residential property tax rates are doing well compared to other municipalities.

Those are the words from the city’s finance department in its 2018 provisional budget that’s set to be unveiled at city hall Tuesday.

The documents show the average tax hike in the last five years (2012-2016) was 2.2%

Kelowna recorded 3.19%, Prince George 2.9% and Vancouver 2.33% for the same time frame.

Port Moody ranked highest in the province at 4.17%

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The lowest tax increase in the last decade in Kamloops was in 2015 at 1.22%. with the highest in 2013 at 3.55%.

The finance departent referred to Kamloops tax rate as ‘slow and steady’ adding the city needs to maintain a long term focus in order to address infrastructure needs.

This year’s tax increase was 2.67% with no prediction yet for next year.