Lake Country warns residents of ‘sizeable’ tax increases

It’s appears it's the price to pay for an explosion in population and the costs associated with it.

The District of Lake Country has told residents to expect property tax hikes of up to 19 per cent depending on what local politicians decide as the best way forward.

According to its administration, Lake Country is facing immense external pressures, largely triggered by population growth.

RCMP Service costs increases were triggered when Lake Country’s population surpassed 15,000. Rising inflation rates are also resulting in escalated cost of services, contracts, and wages throughout the District. Maintaining and upgrading aging infrastructure and sustaining the level of services that we are all used to will come with a higher price tag in 2023.

In a media release the district said various options will be presented to Council on how to effectively stagger and phase in unavoidable escalating costs.

The 2023 property tax increase will range somewhere between 9.95% to 19.02% depending on how Council chooses to move forward.

To put the increase into perspective, the district said, a one per cent increase results in approximately a $20 annual increase, for the average single-family home. BC Assessment has determined that the average single-family home in Lake Country in 2023 is $1.087 Million.

So, based on this assumption, the average homeowner could face anywhere between a $200 and $400 tax increase.

The district said as 2023 budget deliberations approach beginning on January 26th the community is reminded of the importance to get involved and let Council know your thoughts on the 2023 draft budget.

Public engagement is an important component of the budget process. Budget details can be found at Let’s Talk-Lake Country.