District of Kent’s 2025 draft financial plan includes tax increase of nearly 7%

AGASSIZ — The District of Kent is projecting a possible property tax revenue increase of nearly seven per cent in conjunction with its proposed 2025-2029 Financial Plan.

According to a summary of its meeting held Monday, March 10, mayor and council received the draft five-year financial plan. Councillor Stan Watchorn noted that staff have secured grants amounting to $16 million, of which $2 million will fund riverbank armouring.

The draft financial plan includes a 2025 property tax revenue increase of 6.95 per cent, which factors in general contract and inflationary increases of 2.7 per cent, police contractual and inflationary costs of 1.25 per cent, Lets’emot Regional Recreation & Aquatic Centre of 3.2 per cent, annualized 2024 positions with a cost of 0.5 per cent. Investment earnings interest helps lower the property tax increase to 6.95 per cent.

The District of Kent says a one per cent tax increase raises $87,400 in property tax revenue. The District of Kent contracts RCMP police servicing costs with the province, and states it has limited financial capabilities in administering their budgetary requirements.