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The Peachland District Council is considering a 7.74% property tax increase as part of the proposed 2024 Financial Plan. This increase will be partially offset by revenue from new construction, use of reserves, and prior years' surpluses.
Budget Highlights
The increased revenue will fund various capital projects across Peachland, including:
- Road remediation projects ($600,000)
- Improvements to Turner Park ($910,000)
- Enhancements to Sanderson Dog Park ($100,000)
- Upgrades for fire department equipment ($81,000)
- Dock pilings and boat launch works ($109,200)
- Investments in the active transportation network and pathways ($160,000)
- Website upgrade, plotter, and server ($67,000)
- Bonnie Lane pressure reducing station ($650,000)
- Law Street Reservoir backup generator ($145,000)
The Growing Communities Fund Grant from the province will contribute $1.8 million to these projects, with approximately $1 million remaining for future use.
Final Decision and Next Steps
The proposed budget and tax increase are subject to final adoption at an upcoming council meeting. Coldwell Banker Horizon Realty will continue to monitor the situation and provide updates as they become available.
Disclaimer:
The content of this article is for informational purposes only and should not be considered as financial, legal, or professional advice. Coldwell Banker Horizon Realty makes no representations as to the accuracy, completeness, or suitability of the information provided. Readers are encouraged to consult with qualified professionals regarding their specific real estate, financial, and legal circumstances. The views expressed in this article may not necessarily reflect the views of Coldwell Banker Horizon Realty or its agents. Real estate market conditions and government policies may change, and readers should verify the latest updates with appropriate professionals.
The content of this article is for informational purposes only and should not be considered as financial, legal, or professional advice. Coldwell Banker Horizon Realty makes no representations as to the accuracy, completeness, or suitability of the information provided. Readers are encouraged to consult with qualified professionals regarding their specific real estate, financial, and legal circumstances. The views expressed in this article may not necessarily reflect the views of Coldwell Banker Horizon Realty or its agents. Real estate market conditions and government policies may change, and readers should verify the latest updates with appropriate professionals.
