Last round of budget talks at Town Hall

A report from staff to Council suggests that – all things being equal – and with no changes – taxpayers could see a reduction in taxes on the average home in Oliver.

Chief Financial Officer David Svetlichny, in a report prepared for a Monday council meeting, says staff has worked diligently to ensure an appropriate and economical general budget to put forth. The average Oliver residence would see a small tax saving of $2.00

Average house value $297, 905 with taxes of $454. This is for general, fire, garbage and recycling, roads etc. – does not include any increases in water or sewer rates. School taxes and RDOS assessments not included.

Some of the cost cutting has occurred within the Fire Department budget including delaying a construction project for an upstairs room. If funded from a joint reserve – that project would not have a tax implication in 2012.

The overall general budget would raise $1.4 Million in taxes and fees. The overall general budget is $2.2 million with expenditures listed as $1.796 million and $415 thousand going into reserves. The extra funding comes mainly from the BC government in the form of an unconditional Small Communities Grant.

Council will debate the issue Monday at 4pm. This meeting is open to the public.

Prior to the end of 2011 water and sewer rates were set at an increase of 2% in the Sewer Utility and 6% in the Water Utility – most of the water hike due to increased borrowing for capital projects.