A Vernon councillor is facing potential legal action from a former city councillor. (Jennifer Smith - Morning Star)

Nearly 7% tax increase eyed in Vernon

Council to consider final number at Monday meeting

Vernon residents could be on the hook for an approximately seven per cent increase in property taxes.

The 2022-2026 financial plan includes a provision for a 7.08 per cent increase.

But finalized assessment values show tax revenue will be higher than anticipated – $800,000 rather than $750,000.

“The effect of this has slightly reduced the tax increase from 7.08 per cent to 6.96 per cent,” said Terry Martens, financial planning and reporting manager, in a report that council will consider Monday, April 11.

The total 2022 tax revenue requirement approved by council is more than $48 million.

The average residential property assessment for 2022 is $611,523, up from $481,819 in 2021 — a 26.92 per cent increase.

The 2022 tax rates bylaw must be adopted prior to May 15, 2022.

READ MORE: Eight per cent tax hike considered by Vernon council

READ MORE: Average Lake Country homeowner paying $111 more in taxes


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