West Vancouver homeowners are looking at a 5.5 per cent increase in their municipal tax bill for 2019.
District staff estimate that will add $272 to the taxes of a median-priced home of $2.5 million.
In a budget update for council Monday, director of financial services Isabel Gordon laid out a bumpy fiscal path ahead for the municipality.
Among the pressures highlighted: A $5.3-million shortfall in funding required for maintenance of aging infrastructure and the province’s employer health tax coming into effect, which is expected to add another $1.2 million in payroll costs to the operating budget – four times more than the MSP costs the municipality traditionally paid.
Because of tight finances, “only the capital works and operating costs that are considered to be critical to maintaining services,” are being included in the budget, according to the district.
The district has two more public information sessions scheduled for the budget: Jan. 30 from 12:45 to 2:45 p.m. at the seniors’ activity centre and Jan. 31 from 6:30 to 8:30 p.m. at the West Vancouver Community Centre.
Council also accepts public feedback online at westvancouver.ca/budget.
