Fernie City Council has adopted the 2025-2029 Five-Year Financial Plan, which includes a 7.46 percent property tax increase.
The tax increase would mean a jump of $212.03 for a single-family home at the average assessed value of $925,235.
The budget covers Fernie’s operating expenses for 2025, which are expected to cost almost $18.2 million – an increase of just over $604,000 over 2024’s operating costs.
Fernie’s financial plan also earmarks about $12.5 million for the City’s new capital projects, such as $1.6 million for detailed design work for the new fire hall and $1.4 million for road rehabilitation around the community.
Finance Director Bryn Burditt says the new projects will get the majority of the capital works budget, but there will be more funding for work that is still ongoing.
“Our plan for this year is almost $17.7 million. This is not for all new projects and includes approximately $5 million of carry-forward projects from 2024, which are mainly projects that are still in progress from last year,” said Burditt.
Tax notices will be delivered to property owners in the coming months.
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