RDCK to Host Public Budget Information Sessions, In-Person and Online
For those interested in gaining insight into the regional district’s financial landscape and the development of the 2024-2028 RDCK Financial Plan, the Regional District of Central Kootenay (RDCK) is offering public budget information sessions until the end of March. The sessions, which are available in-person and online, aim to provide a breakdown of the regional district’s financial landscape and dissect the ingredients and development of the 2024-2028 RDCK Financial Plan.
The public budget information sessions will be hosted for all municipalities and electoral areas, including a session on March 12 in Nelson for the city and electoral areas E and F. This presents an opportunity for the public to connect with RDCK directors and staff, ask questions, and learn about the RDCK, as well as find out about projects and initiatives happening in their area.
During a recent review of a draft of the 2024-2028 Financial Plan on Feb. 16, the board of directors projected an average increase in taxation of 9.3 per cent. This is a decrease from the initial 11 per cent after accounting for board revisions. After non-market assessment growth is taken into consideration, the increase nets down to 7.9 per cent for RDCK property owners, although this figure varies depending on the area or municipality of residence.
The increase is intended to fund over 180 services, with variations across the rural electoral and member municipalities. The proposed changes in taxation for the year are most significant in Area D, which could see a 17.7 per cent increase, followed by a 16.3 per cent increase for the Village of Salmo. In the city of Nelson, a 3.1 per cent average assessment increase is accompanied by a proposed 12.2 per cent taxation hike. Similarly, Castlegar’s 3.52 per cent assessment increase is paired with a projected 11.7 per cent taxation rise.
The budget for 2024 is set at $42.99 million, up from $38.7 million in 2023. Although the average taxation increase is projected to be around 9.3 per cent, the BC Assessment for the entire RDCK has only risen by an average of 4.18 per cent. In a special meeting held on Jan. 19, it was highlighted that inflation and supply chain concerns are the main drivers behind the upward trend in taxation. Operational cost increases, required maintenance related capital projects in recreation, fire protection, and resource recovery services, as well as inflation and supply chain constraints, continue to impact many services and projects.
These public budget information sessions present an opportunity for the public to gain a deeper understanding of the financial plan and its implications for their respective areas. The sessions will provide valuable insights into the regional district’s financial landscape and the factors contributing to the proposed taxation changes.
