A slight increase in taxation is on the horizon for residents in the Village of Radium.
Council agreed to support a bylaw to levy rates for municipal, hospital and regional district purposes at their regular meeting on April 8th.
“We’re seeing several areas increase in our operation,” Karen Sharp, chief financial officer at the Village of Radium explained to council.
“There will be a 2.5 per cent increase in the taxation revenue to cover the needs in the community at this point in time. Water and sewer user fees, as well.”
Sharp believes the proposed 2.5 per cent increase across all categories at hand will help build up council’s reserves.
It will also support several areas of governance, including insurance.
“It’s a reasonable increase for a community our size and for our means,” added Mark Read, Radium chief administrative officer.
The last times that taxes increased, Sharp added, was roughly two years ago at a rate of two per cent.
“And, we made a one per cent three years ago,” she explained. “We’re still pretty low,” — a fact that Read agreed upon.
“We’re still pretty low in comparison to most of the other municipalities,” he said, while nodding in
agreement.
The first three readings of the Tax Rates Bylaw No. 412, 2015 was passed.
Radium reviews finances
The scope of what the Village of Radium Hot Springs can spend in their five-year financial plan (Financial Plan Bylaw No. 411, 2015) has passed its first three readings.
Council unanimously accepted the decision to move forward with its proposed five year financial plan at the regular April 8th meeting.
The information is available on the village website (visit radiumhotsprings.ca) and at the office up to and including April 20th for public review and discourse.
The financial plan encompasses the village’s proposed expenses, proposed transfers between funds, revenue taxation, fees and charges between January 1st, 2015 to December 31st, 2019.
There were no questions from councillors, but Read credited Sharp for a job well done.
“Thanks for all of your efforts on this plan,” said Read.
