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Kelowna council approves 2023 carryover budget requests

Budget carryover projects do not add to the current year’s taxation demand
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Kelowna city council in chambers. (Photo/Gary Barnes)

The 2023 budget carryovers include $237.3 million in operating and capital expenditures for projects that were unable to be completed in 2022 or that are multi-year projects set for completion within the next few years.

These include the airport improvement program, Rutland Centre sewer connection project, Mill Creek Flood Projection project, and a Highway 97 pedestrian overpass.

Budget carryover projects do not add to the current year’s taxation demand, as they are funded through the previous year’s council-approved budget.

“The total 2023 preliminary budget is $528.6 million,” said Melanie Antunes, financial planning manager.

“Of that, the gross taxation demand is $175.1 million. Typically, 25 per cent of the city’s operating and capital costs will come from annual taxation.

There are three stages of the city’s annual budget process. The preliminary budget in December, carryovers in March and the final budget that will be presented on April 24, 2023.

At that time, council will consider the final budget for adoption, including setting the final taxation demand increase.

Based on the average value of a single-detached home in Kelowna, in December council approved an $86.88 increase to property taxes ($7.24 per month).

More information on the 2023 preliminary budget can be found on the City of Kelowna website.

READ MORE: Kelowna council approves less than 4 per cent property tax increase


@GaryBarnes109
gary.barnes@kelownacapnews.com

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Gary Barnes

About the Author: Gary Barnes

Recently joined Kelowna Capital News and WestK News as a multimedia journalist in January 2022. With almost 30 years of experience in news reporting and radio broadcasting...
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