Kimberley City Council has given its 2025 – 2029 Five-Year Financial Plan, Parcel Tax and Flat Tax bylaws their first three readings in council chambers.
Once adopted, the bylaws will lock in the City’s annual spending plan and two tax bylaws to help pay for Kimberley’s operating costs.
The Flat Tax rate will remain unchanged from 2024 rates at $306 per parcel on improved residential properties and $386 for unimproved residential properties.
Meanwhile, the Kimberley’s Parcel Tax rate will increase to $215.73, which is a $2 increase over 2024.
“Between the increased revenues we’re getting and the increased costs as the facility ages, we’re kind of breaking even on where we’re at,” said Mayor Don McCormick.
“We haven’t seen much movement up or down on that in a number of years.”
City officials say Kimberley will pay the last debt payment on the Aquatic Centre this year, meaning the Parcel Tax may be lowered by about $40 in 2026.
In early March, Kimberley approved its property tax bylaw, which set a 6.99 per cent increase, or $16.75 more per month on a single-family home assessed at $572,954.
“The recommendation that was presented by staff and adopted by council was an increase for the average single-family home of about $201 per year,” said McCormick.
“That represents a number of items, including inflation. With costs going up, if we don’t match that then we have to reduce costs somewhere else. That means service reductions, which is definitely something that nobody wants to do.”
Taxes collected by the City will be used to fund Kimberley’s operating costs and capital expenses.
This year, the City set its 2025 Capital Plan budget at $36,726,962 for its various projects and expenses.
This sum includes the wastewater treatment plant replacement, St. Mary’s Avenue reconstruction and the Civic Centre chiller replacement, among other projects.
Kimberley officials say the budget will include $6,360,992 toward the water, sewer and general reserve funds.
The City has also earmarked $461,842 for cash and in-kind grants to various community organizations.
McCormick says the city has been in a relatively stable financial position, despite inflation and tight budgets.
“Staff have put this budget together without any cuts to projects that need to be done this year to keep our level of service where they are,” said McCormick.
“Prudent financial management over the last several years and great work from our senior managers in making sure priorities are looked after has kept us in a very good position this year.”
The bylaws will come back for adoption at the April 28 regular Council meeting.
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