Fewer people than expected are moving to West Kelowna.
Tanya Garost, general manager of finance and corporate services, spoke at the district’s Tuesday evening council meeting. She told council assessment growth is lower than the originally projected 1.25 per cent.
“We budgeted (for) one per cent, and our final (growth) actually came in at 1.06 per cent,” said Garost.
“That’s the lowest growth that the district has seen since incorporation.”
The 1.06 per cent growth adds $256,904 in tax revenue to this year’s financial plan.
West Kelowna mayor Doug Findlater called the growth “very limited.”
Garost said the rate is directly related to building activity.
“So that’s the number of projects that have completed during the year, not necessarily the number of building permits that have been taken out,” said Garost.
“(The growth) is certainly reflective of the economy.”
Council passed second and third reading of the 2014 financial plan bylaw at its meeting Tuesday evening. The proposed tax increase remains at 2.95 per cent.
West Kelowna will give final reading to its financial plan bylaw May 13.
wpaterson@kelownacapnews.com
Twitter: @PatersonWade
