Town of Oliver Chief Financial Officer Dave David Svetlichny says the average homeowner will pay less than he/she did in 2012 due to budget decisions made last Monday.

That saving of .64% will amount to a tax cut for general municipal taxes of $2.97.

In the 2012 Budget,  Svetlichny says Oliver Council also reduced the general operating budget to zero but then changed the Commercial multiplier which resulted in a small increase in home taxes.

2012 operating expenditures were approximately $2.6 million.  2012 Capital budget was about $900,000.

2013 operating expenditures are budgeted at approximately $2.2 million.  2013 capital budget is about $1.3 million. This comparison does not reflect water and sewer budgets, approved previously with revenue covered by utility/user fees.

So as it stand business/commercial land owners in 2013 will see a reduction in taxes due to the multiplier being brought down to 2.45/1 – the provincial rural average applied by Victoria.

But until you review your tax notice later this year you will not be able to see the affects of taxes lines, from the school district, RDOS or municipal, fire and other categories including policing.

Municipal assessments and tax rates and how they combine are quite confusing to the average person – what makes sense is the tax bill you get and how much must be turned over to the tax collector.