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Tax increases coming for Canal Flats residents
The loss of its major economic revenue-generating engine – the mill – is forcing the Village of Canal Flats to increase taxes.
“Many steps have been taken to reduce taxation, unfortunately however, in 2018 taxes will rise on most residences and businesses in Canal Flats,” the village reported this morning on its Facebook page.
“Council made this difficult decision and passed first, second, and third reading of Canal Flats 2018-2022 Financial Plan Bylaw and Canal Flats 2018 Tax Rates Bylaw.
“The primary reason for the increases is because of a complete loss of major industry taxation class (the village’s highest tax rate), as the former mill lands were reclassified by BC Assessment in the past year away from major industry,” the village noted.
Another reason for the tax increase is the decreased property assessment values overall.
“The loss of the major industry tax class is a lingering effect of the closure of the sawmill, and as a result a significant amount of taxation revenue is not available to the village this year,” the village post explained.
“Council has worked hard to keep spending low and overall the taxation budget is set at a 0.0% increase. However, as there is a shortfall, residences and businesses are being called on to make up the difference. Other steps to help ease the burden that have been taken include a lowering of the ‘mill rate’ for business properties and use of some money from prior years’ surplus funds to meet the financial needs of the village.
“Council and staff are making every effort to provide value for your hard-earned tax dollars. Property taxes contribute to the quality of life in Canal Flats and pay for services in and outside of the village, including: recreation (Civic Centre, Tilley Memorial Park, etc.); transportation services; economic development services; protective services (fire, first aid, building services, bylaw control, emergency response); general government; hospital; police; school; RDEK services like the local landfill and arena; and others,” the village outlined.
For questions, please contact the village office, 250-349-5462.
See Village of Canal Flats 2018 – 2022 Financial Plan Bylaw No. 204, 2018
See Village of Canal Flats 2018 Tax Rates Bylaw No. 205, 2018
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