‘Tis the season to start looking at taxes.
Consultation for Bowen Island Municipality’s 2021 five-year financial plan (the budget) is open on the public engagement platform Citizenlab. BIM is likely to propose a 6.6 per cent tax increase in 2021 (here’s why).
BIM is also proposing water rate increases of between 10 and 20 per cent for those on municipal systems.
- Bowen Bay is to go from $800 to $960
- Bluewater Park is to go from $800 to $960
- King Edward Bay is to go from $800 to $960
- Tunstall Bay is to go from $815 to $900
- Eagle Cliff to rise 20 per cent (its rate structure is based on average daily consumption)
- Hood Point is to rise from $780 to $800
BIM also proposes a sewer system increase of 18 per cent.
The steep water and sewage increases come as BIM faces financial pressures of ageing infrastructure. Among the considerations are that the Snug Cove Sewer System requires a $7.6 million overhaul in the longterm, Eagle Cliff requires $3.3 million in replacement and renewal over the next five years and Bluewater Park requires $2.3 million in replacement and renewal over the next five years.
For those wanting more detail, there’s a virtual open house Jan. 14 from 6 p.m. to 7:30 p.m.
In the video below, chief financial officer Raj Hayre offers budget 101: