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District adopts a balanced budget
Two percent tax increase coming
District of Invermere council December 11 unanimously approved a balanced budget for 2013.
A focal point of the budget for the next year is infrastructure and parks improvements as well as financially supporting several community groups through the district through fee-for-service agreements, grants-in-aid and permissive tax exemptions.
The district expects $2.5 million worth of capital projects taking place in 2013.
In a press release, the district stated it is proud to report that the municipality has met its carbon neutrality commitments and is carbon neutral for 2012!
Key points of the budget are:
– A two per cent tax increase is included (for an average assessed home ($404,058), this equates to a $2.15/month increase in municipal taxes).
– The commercial and light industrial tax rate ratio is reduced from 2.75 times the residential rate to 2.72 times the residential rate. This shift in taxation will add approximately $5 to the annual tax bill of a single family residence but will bring the commercial and industrial tax rate to less than the provincial average.
– An estimated $171,000 in revenue as a result of the Hotel Tax which is slated for projects within the Resort Development Strategy.
Some of the highlighted capital projects are:
– Fieldstone Glen sidewalk improvements;
– Laurier Street bridge upgrade improvements;
– Completion of bocce pits at Kinsmen Beach;
– Completion of Cenotaph Park improvements;
– Bear proof garbage containers at Kinsmen Beach;
– New swim float and slide;
– Kinsmen Beach play structure;
– Major sewer force main upgrade down 17th Street to Kinsmen Beach;
– Renovations to lift stations;
– Water treatment design.
For utility rates, a $5 bi-annual flat fee increase on water meters is proposed as well as the following metered increases:
First 150 m3 – from $0.67/m3 to $0.68/m3
Next 50 m3 – from $0.72/m3 to $0.75/m3
Balance of m3 – from $0.83/m3 to $0.88/m3
Commercial – from $0.62/m3 to $0.63/m3.
Sewer rates are proposed to increase by two percent.
Above image: Kinsmen Beach is in line for some more district loving this upcoming year. Ian Cobb/e-KNOW
District of Invermere/e-KNOW
