Vanderhoof’s 2024 budget proposal will entail a 3 per cent increase in taxes for the year.
Chief Financial Officer (CFO) Margaret Stewart outlined the financial landscape during the budget meeting held on April 15th. She highlighted that residential assessments experienced nearly a 1 per cent decrease in 2024.
Stewart elaborated that the 3 per cent tax hike would equate to approximately $40,000 on an average home, assuming no assessment decrease.
Presenting the 2024 operating budget to the council, Stewart emphasised minimal changes to projected revenues, fees, staffing levels, and salaries. The budget factored in a consumer price index of 3.9 per cent.
With healthy district reserves and a surplus from the previous year, the budget includes several capital and infrastructure projects, notably water and sewer upgrades. Many of these projects are either funded, partially funded, or expected to receive grants.
Mayor Kevin Moutray expressed satisfaction with the proposed budget, noting the balance between essential infrastructure projects and community livability initiatives.
“Staff have worked hard to keep the rates at a reasonable increase, while still making sure that we move forward on integral capital projects,” he said.
Moutray highlighted the budget’s focus on enhancing the community’s livability, ensuring Vanderhoof remains an attractive place to live.