The District of Squamish is proposing a tax rate increase of 2.5 per cent this year.
However, this is a just a preliminary proposal; tax rates will be finalized in April following the release of BC Assessment rolls.
The financial plan calls for a property tax increase of 6.5 per cent.
However, a growth in the assessment base is expected to result in extra revenue for the district, which will enable the district to reduce the proposed tax rate increase this year to 2.5 per cent.
“Impacts on particular classes in district will be influenced by policy and legal caps as well as market influences between neighbourhoods,” the district says.
The district expected to collect $33,293,200 in property taxes, which accounts for 35.6 per cent of the 2021 budget.
As many as 200 capital projects are being planned by the district as part of financial plan for the next five years.
Some of these projects include renovating the Brennan Park centre, upgrades to RCMP detachment, corridor trails, a new deputy fire chief, and renovations at Squamish Adventure Centre.