Tax Rate Bylaw Adopted

With the adoption of the Tax Rate Bylaw on May 4, 2021, Council finalized the process for setting the 2021 budget and property tax rate and approved the lowest budgeted tax increase in over a decade. After factoring in growth, the property tax increase within the budget as a whole is 0.93%. This is approximately $20.72 in additional charges for the average residential household. Taxes on an average residential home in Kamloops (currently valued at $497,000) will be around $3,570 before the application of Home Owner Grants, which residents can now apply for directly through the provincial government.

Keeping the tax rate as low as possible was a key consideration for Council as the community continues to be economically impacted by the COVID-19 pandemic. With the help of grants and COVID-19 relief funding from other levels of government, Council was able to achieve this goal while still proceeding with the vast majority of planned and proposed projects and without reducing service levels. For more detailed information, read the full press release here.

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