By ROY WOOD
Osoyoos adopted its tax rates bylaw this afternoon, making official the 2.93%-per-cent increase in property taxes over last year.
The deadline for the approval, set by the provincial government, is May 15.
The average assessment for a single-family residential property in Osoyoos is $429,687, on which the owner will pay a municipal tax bill of $972.39.
The largest portion — $2.6 million — of the taxes collected will go to general municipal services, including roads, sewer, water and the like. Other claims on the municipal tax pot include:
- $34,800 for general debt;
- $305,210 for fire protection, including the soon-to-be hired full-time fire chief;
- $188,503 for the debt to build the $6.5-million firehall;
- $953,450 for the newly-increased 70-per-cent share of RCMP policing costs.
Of course, the municipal portion is only part of the of the tax bill homeowners will get this summer. The town also collects the taxes for other authorities, including:
- Schools – this year’s total hasn’t been sent to the town yet, but last year it was $3,730,533;
- Hospital — $524,154;
- Regional District of Okanagan Similkameen — $839,268;
- Okanagan Regional Library — $254,205;
- BC Assessment Authority — $82,188; and
- Municipal Finance Authority — $400.
Adoption is the final step in the budget process that began in the fall. According to today’s report from finance director Jim Zakall, “These numbers have been discussed thoroughly with council and are included in the town’s five-year financial plan that was adopted earlier this year.”