Fernie council has approved its 2024 tax rates bylaw and the community will see a 6.1 per cent tax levy increase this year.
“Many of our costs went up in excess of 15 per cent, but we’ve been able to hold our tax increase this year to 6.1 per cent,” said Mayor Nic Milligan.
“I know it’s difficult for some and we certainly respect that, but we have been able to provide quality and consistent services with that increase. I think it’s ultimately a good thing for the community.”
It will result in a $163.84 increase to the municipal tax bill for the average home in Fernie assessed at $898,559.
Milligan thought they could have done more to proactively bolster their reserves, but was happy with the number they settled on.
“I do think this budget, while still underfunding our reserves to some degree, is putting money in our reserves and strikes a balance for our residents between where they are and where they’ve been in terms of runaway inflation,” he said.
The bylaw was approved in a 4-3 vote. Councillors Harsh Ramadass, Tracey Audia Kelly and Ted Shoesmith voted against it.
Notices will be sent out to residents and property taxes are due July 2. A 10 per cent penalty will be applied to any late payments.
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