Esquimalt tax increase modest because of high property assessments
Residents in Esquimalt will see a modest tax increase of 0.5 per cent this year.
Esquimalt Council approved a $42.6 million budget this week.
Acting Mayor Beth Burton Krahn says the increase of property assessments was the biggest reason for the small number.
“The money that we are bringing in anyway with the increase assessments is enough to cover all of our expenditures as well as providing us with an opportunity to tuck a bit away into reserves and maintain our level of services.”
The property tax revenue makes up for about 40 per cent for the Township; according to a staff report.
Burton-Krahn says the major projects that have gotten underway this year are the Esquimalt Town Square, a year round water park, and regular on-going maintenance of parks.