This investment is part of a national initiative led by Community Foundations of Canada and funded by the government of Canada, which will provide $18.5 million across Canada to seed and grow social enterprise. (File photo)

Vernon sets sights on 4.47 per cent tax increase

2021 budget calls for raise amounting to $69 for average home

Vernon residents are looking at a hike in taxes next year.

The city is has a proposed 4.47 per cent tax increase for 2021.

For the average Vernon home, valued at $461,747, the increase would equate to approximately $69.

The 2021-25 proposed financial plan includes a proposed net operating fund increase of 1.79 per cent and will be available to the public Nov. 30 and Dec. 1 (watch for further details in city advertisements in the Morning Star).

The increase is slightly lower than 2020, when taxes increased 4.91 per cent.

The city is also benefiting from nearly $5 million in COVID-19 safe restart grant funds.

READ MORE: North Okanagan gets more than $13 million in COVID-19 relief

“I personally am very happy, $4.997 million will help us,” director of financial administration Debra Law said.

“The idea is this money has to ride us through the next three to five years depending on how long this lasts and how it affects our community.”

Law was also recently awarded with the Distinguished Budget Presentation Award, for 2020. It’s about the seventh year in a row she has earned the honour.

Vernon’s director of financial administration, Debra Law, is awarded with the Distinguished Budget Presentation Award from Mayor Victor Cumming #yourvernon #vernonmorningstar

Posted by Vernon Morning Star on Monday, November 9, 2020

READ MORE: Solid budgeting leads to major award for City of Vernon

Looking back on the past year, Mayor Victor Cumming is pleased with the progress made amid a pandemic.

“If you add up the capital projects here you’ll find that it adds up to $18.8 million,” Cumming said. “It’s been a tremendously active season in terms of infrastructure repair and upgrading.”


@VernonNews
jennifer@vernonmorningstar.com

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