Vernon homeowners to see whopping 10% tax increase

Homeowners in Vernon are set for the highest property tax increase in years with an almost 10% jump when compared to last year. With little debate, Vernon council approved the 9.91% increase – a rate four times that of inflation. The move will cost the owner of an average single-family home, valued at $802,464, about $227 more than last year putting the total tax bill at $2,512. The city's move also puts the increase at more than double the projected property tax increase for Kelowna https://infotel.ca/newsitem/municipal-budget-season-means-a-preview-of-tax-hikes-in-kamloops-okanagan/it107396 , 25% more than Penticton, and a touch above the City of Kamloops. Businesses in Vernon will see a tax increase 10.39%, which equates to $876 a year on average. Vernon councillor Kari Gares was the only dissenting voice at the council's April 14 meeting. Coun. Gares said she favoured a slight increase for residents to 10.05% but a decrease for businesses to 10.05%. "The commercial businesses have actually been taking the brunt over the last couple of years," Coun. Gares said. "We’re talking a $3 (increase) on the residential side which won’t be noticed, but $30 (decrease) on the business side will be." Councillor Teresa Durning said she thought the increase was "fair to all concerned." This year's property tax increase is in steep contrast with five years ago. In 2021, property taxes in Vernon increased a little over 2.5%. A year later in 2022, taxes rose 5.5% and in 2023 there with a 4.5% increase. Property taxes went up in 2024 with the residential rate increasing 6.5%. While Vernon residents are set for a higher property tax increase than Kamloops and other Okanagan cities, council was facing a proposed tax increase of 11% before cuts were made to the budget. To contact a reporter for this story, email Ben Bulmer mailto:bbulmer@infonews.ca  or call (250) 309-5230 or email the editor mailto:news@infonews.ca . You can also submit photos, videos or news tips to the newsroom mailto:tips@infonews.ca  and be entered to win a monthly prize draw. We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here https://infotel.ca/newsletter .