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Posted:
May 12, 2020
Cranbrook council adopts 2020 Tax Rates Bylaw
City of Cranbrook council last night (May 11) adopted the 2020 Tax Rates Bylaw.
Per the 2020 – 2024 Five Year Financial Plan, the tax levy for 2020 is $28,363,481.
After a budgeted non-market change of $240,000, this reflects an overall property tax levy increase of 2.88% for residential properties.
A general increase of 1.88% ($513,400) represents inflationary pressures on operating costs.
The average tax increase for business/other properties is 2.23%
An additional one per cent ($273,400) road dedicated tax results in a total of $2,504,000 available for capital works road projects in 2020.
Read more about Cranbrook 2020 Tax Rates Bylaw.
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