Budget Process
The Community Charter requires local governments to approve a five-year Financial Plan Bylaw each year by the end of March. The Financial Plan is also referred to as the Budget. Generally, the annual budget is prepared through the following process:
- Each fall the CRD creates budgets for each of its services based on anticipated activities and priorities.
- Finance compiles all these budgets to make a draft financial plan.
- The draft financial plan is reviewed and approved by the CRD Board.
- The plan is revised based on public input and Board priorities until a final version is approved.
- The final version allows us to develop the Financial Plan Bylaw.
- The Financial Plan Bylaw must be adopted no later than March 31.
In the Financial Plan Bylaw, we set the property tax revenue we need for each service. This forms the basis for your taxation rates for the year. The CRD Board may amend the financial plan by bylaw at any time during the five-year period.
Learn more about the relationship between property assessments and property taxes, or view this helpful video provided by BC Assessment.
Budget Feedback
As part of preparing the Financial Plan, we seek out resident and stakeholder feedback on the proposed levels of spending, taxation, and methods of financing for various initiatives and services. Our budget consultation seeks to obtain feedback on the proposed changes to the budget, along with improving our understanding of resident's concerns about the budget. This feedback is then considered by the Board prior to its final decision making on the budget, and changes may be made to reflect public comments received.
Our Budget Feedback survey is open until February 19, 2025. The survey should take approximately 3 - 5 minutes to complete. All responses are anonymous and no personal information is being collected as part of the survey. The results will be presented to the Board of Directors at their February 27, 2025 Finance-Budget Committee before final approval is considered.
Take our Budget Feedback Survey
Subscribe for our e-newsletters to stay up to date and get the latest CRD news direct to your inbox.
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The total budget for 2025 is $77.6 million, an increase of $3.13 million over the 2024 budget of $74.4 million. The total tax requisition for 2025 is budgeted at $35.53 million, an increase of $2.62 million above the 2024 requisition. This increases the overall tax requisition by 8.5%. The tax requisition is increasing at different levels for different services, and no resident will pay into every service. Administrative Services - 9.1% ($433,615) Airport Services - 0.6%, $6,616 Contribution Services - 2.5%, $12,598 Grants for Assistance - currently unknown Development Services - 22.1%, $239,566 Emergency Planning - 4.6%, increase of $46,539 Environmental Services - 7.6%, increase of $421,316 Library, Culture and Heritage Services - 3.4%, $103,617 Protective Services - 5.7%, $398,606 Departments that have significant increases include:
Recreation Services - 6.0%, $588,716 Streetlighting - 3.0% increase, $1,480 Sewer Services - 0% requisition increase Water Services - 0% requisition increase Utility Fees - 6.0% increase, $100,926 For the full summary, you can read the background staff report here. |
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| 2025-2029 Financial Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Electoral Area Taxation Impacts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Taxation changes between neighbourhoods will vary. This is because different properties belong to different service area boundaries based on their location. For these scenarios, the assessed value of the sample residential property is set at a total of $400,000. This is based on an assessed value of $80,000 for Land and $320,000 for Improvements. As seen in the below table, property taxation changes vary greatly depending on the area your property is in. In general, areas with higher levels of development and higher property assessments will see lower increases than areas with lower levels of development and lower property values. Additionally, the changes are impacted by the number and type of services available, particularly when there is a recreation service, fire department, or utility system available. Changes to your property's specific taxation will depend on the change in your property's assessed value between 2024 and 2025. You can contact the Finance Department for a projection of changes to your property taxes for next year.
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