Residents of the Central Okanagan Regional District will pay 6.8% more on average in property taxes

Property owners in the Central Okanagan Regional District (RDCO) will pay an average of $320 more in property taxes for 2023.

The impact on each homeowner varies depending on where they live and the value of their property.

Those in the Eastern Electoral Area will pay the most at $595, while those in the Kelowna area will pay the least at $188.

The average property tax increase increases by 6.8%.

RDCO’s 2023 financial plan includes operating revenues and expenses of $61.5 million, an increase of $2 million or 3.4% from the 2022 plan.

DRCO’s proposed capital plan for 2023 is $18.1 million, an increase of $651,000 or 4% from 2022.

The largest spending area is parks services, at $7.5 million, or 41% of the total plan. It includes projects in seven different regional and community parks.

Investments in sewer services and fire services come next with $3.4 million and $2.9 million respectively.

Spending on sewer services will improve the lift stations and sewage treatment plant. Expenditures for fire departments include the purchase of equipment for the East Electoral Zone and the West Electoral Zone.

A report to the RDCO board indicates that reserve levels are expected to decrease at the end of 2023, with the aim of building up reserves over the next few years.

Comments and comments on the financial plan can be provided to the regional council by February 28.

Details are available on the RDCO website.

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@GaryBarnes109
gary.barnes@kelownacapnews.com
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Central Okanagan Regional DistrictCity of West KelownaKelownaLake CountryProperty Taxes