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Sidney Approves 2018 Financial Plan

Sidney, B.C.; Town Council has approved a Financial Plan for 2018 that results in a moderate municipal tax impact of 2.43% for existing properties. The net impact of the tax increase on the average residential property is about $34 for the year, or $2.82 a month. Once again, there is no change to Water or Sewer rates.

Mayor Steve Price stated, “By working with Town staff and listening to the priorities expressed by our residents, we have found innovative ways to make several minor changes to the proposed budget in order to reduce the financial impact to taxpayers. As always, this has been accomplished without affecting services or the long-term financial health of the Town. “

Total municipal taxes for the average residence will be about $1,438 for this year or $120 per month. For this amount, the Town provides fire and police services, roads maintenance, parks and public space maintenance, community and emergency planning, bylaw enforcement, as well as a range of related community services. While many of these services may be taken for granted, the value received for $120 per month compares favourably with many common utility bills.

Residents are reminded that tax changes for other jurisdictions, which make up about half the tax bill, are not yet finalized. As always, the tax increase for any individual residence will vary, depending on its assessment change relative to the average home, which increased by 20.4% this year and is valued at about $619,000.

For more information on the Town’s budget, please refer to the Financial Services section of the Town’s website, at http://www.sidney.ca