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Council settles on 9.5% tax increase for Penticton residents in 2023

After three days of deliberations, Penticton council approved the 2023 budget on Friday with a 9.5% tax increase.

The city says the average homeowner will pay an average of $15 more per month and commercial property owners will see a $58 increase each month.

A few highlights of the budget includes:

  • The addition of four firefighters and two RCMP officers

  • A “blueprint” for attainable and affordable housing with an update to the OCP

  • A $12.6 million investment to repair or replace water, electrical and sewer infrastructure

  • A $15.2 million investment to advance planning of a new Community Safety Building, recover the soccer bubble, rehabilitate pavement, update tennis courts and add a new fire truck

The city says the budget includes a 3.4% increase to meet operational expectations, inflationary pressures and contractual obligations.

It also includes a proposed 3% increase to meet priorities of council.

The 2023 budget also includes the first year of the tax deferral made by the previous council that is being phased in at 3.3% per year over the next three years.

Council managed to shave off 0.02% of the previously proposed 9.7% increase.

Budget deliberations will not happen again until November, when council meets to discuss the 2024 budget.



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