Property taxes to increase by 9.5% for Powell River homeowners

Powell River residents are looking at a 9.5% property tax increase this year.

City council is giving the budget its first three readings at tonight’s meeting.

The increase will mean about $287 more per year for the average homeowner.

Council was originally faced with a proposed tax increase of 11.4% but was able to reduce it to 9.2% after deferring several projects, including purchasing a new fire ladder truck, new salt shed, and automatic recycling carts.

A reduction in rec centre funding from the regional district bumps the total tax requisition up to 9.5%.

The permanent closure of the Catalyst Tisk’wat mill has meant a major loss in tax revenue for the city. At its peak the mill contributed more than $5 million annually in property taxes.

Council will give final approval to the budget at its March 27 meeting.

The full financial plan is available from the city’s website.