Coldstream residents could see their taxes drop as a result of increased funding from the regional district. On Thursday, the North Okanagan Regional District agreed to provide $162,368 to Coldstream and $733,907 for operational services they provide to the Greater Vernon water utility. With extra cash in hand, Coldstream council is expected to look at a way of whittling down a 9.17 per cent tax hike. “It will be something we will discuss,” said Gary Corner, mayor. Of the $162,368, Coldstream has already included $100,000 of that in its budget, meaning that it must determine the future of the remaining $62,368. A one per cent tax increase translates into about $30,000, so receiving $62,368 could lower taxes by two per cent or to seven per cent overall. “They have until May to make adjustments to the budget,” said Catherine Lord, chief financial officer, of council. Corner expects his council will take a look at the matter seriously. “I’d like to see any way to lower taxes but also to proceed with important projects. We are looking at a couple of ways to lower taxes and this is one of those ways,” he said. In Vernon, the $733,907 has already been included in the budget, placing the residential tax increase at 3.49 per cent.
The entire issue of fees for service was raised last year by the City of Vernon. It claimed that NORD, through the Greater Vernon Services Committee, was not paying enough to use city assets such as vehicles and buildings. Thursday’s board decision was based on a recommendation from the chief financial officers of Coldstream, Vernon and NORD.“If our three CFOs came up with something, what other recourse is there?” said Corner of accepting the recommendation.But opposition came from BX-Swan Lake director Cliff Kanester and BX-Silver Sar alternate director Mike MacNabb. Kanester believes the city shouldn’t have been demanding more money for use of its facilities because it had previously agreed to follow a NORD financial formula. “There is a resolution that they would use the regional district overhead policy and that’s not what this is all about,” he said of the staff recommendation.
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