Historically, council has deliberated on the annual budget up until the last moment, which is why many (including members of council) were shocked when this year’s budget passed 11 days early.
After two years of no increase to residential tax rates, Tumbler Ridge residents can look forward to paying 5.46 percent more this year than last.
Tax rates are based on the value of your property compared to the rest of the properties in town.
This means that if your home’s assessed value increased the four percent that all other properties, on average, did in town, you will be paying 5.46 percent more, regardless of that increase.
However, if your property’s value went up more or less than the average, the amount you’ll be paying will also be more or less.
As of last year, the average tax burden for a Tumbler Ridge homeowner was $2090.
This year, the average homeowner, with an assessed property value of $151,000 will be paying $2204.11 in District taxes.
That doesn’t mean that your tax bill will be $2204.11, as the District also collects a variety of other taxes for other services, like the local school district.
Tax rates were up almost across the board for the District, with Utilities going up 3.42 percent, Major Industry going up 6.29 percent, Light Industry going up 6.3 percent, and Business and Other going up 5.45 percent. Only Recreation (which sees a scant $118 collected in taxes) didn’t go up.
Overall, the District will be collecting an estimated $9,874,290 in taxes in 2023, up from $9,363,067 in 2022.
That makes up 55 percent of the District’s income. Other sources include Investments ($406,000) Sale of Services ($1,692,600) and Government Transfers ($6,307,088).
Trent is the publisher of Tumbler RidgeLines.
