Council approves key financial and tax bylaws

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At the May 13 special meeting, Kitimat Council unanimously approved a series of bylaws aimed at strengthening the municipality’s financial planning and tax regulations.

All three bylaws received their third readings at the May 6 regular council meeting.

First, the Five-Year Financial Plan Bylaw No. 2050, 2024 was adopted. This bylaw sets out the municipality’s financial strategy, including a property tax increase of four per cent from 2023. The plan, required by the Community Charter, must be adopted before the annual property tax bylaw. It includes the municipality’s objectives, policies, and financial projections for the next five years.

Next, Council approved the Tax Rate Bylaw No. 2051, 2024, which establishes the property tax rates needed to collect municipal revenue as outlined in the financial plan. According to section 197 of the Community Charter, this bylaw must be adopted following the financial plan. It includes a four per cent increase in property taxes from the previous year and outlines the tax amounts to be collected on behalf of other local governments and public bodies.

Finally, the Residential Flat Rate Tax Amendment Bylaw No. 2052, 2024 was adopted. This bylaw amends the flat tax rate for residential properties for 2024, setting it at $723. The ability for councils to levy a flat rate tax on residential properties was introduced in 1990 and remains in force as long as the municipality continues to use the flat tax bylaw.



About the Author: Quinn Bender

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