Municipalities begin 2021 financial planning process

The City of Victoria has reached out for public input on its 2021 Draft Budget. Municipalities in BC typically begin their budget process early in the new year by compiling a wishlist that is then whittled down during deliberations. Victoria says it wants to keep any tax increase down to 1% plus inflation by focusing on essential services. To have your say on what Victoria is proposing, go to engage.victoria.ca to fill out a survey and get details on a Jan. 19 town hall.

With property assessments increasing across the board in the region, municipalities will need to adjust rates to cover their costs without increasing taxes for all property owners. The District of Saanich's website, which includes the graphic above, has good information on the financial planning process. The provincial government requires all BC municipalities to adopt their financial plans by March 31, and their annual tax rate bylaws by May 15 each year.

The Chamber will continue to advocate for fair rules to ensure municipalities don't burden businesses by raising commercial property taxes. As Chamber members, Victoria, Saanich, Langford, Colwood, Esquimalt and View Royal have shown leadership by ensuring fair financial plans. If you have questions or comments about the budget process in any of these municipalites, contact The Chamber at communications@victoriachamber.ca and we will be happy to advocate on your behalf.

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