2025 Draft Budget & Financial Plan
March 7, 2025
The 2025 Operating and Capital Budget was put to council’s consideration at first reading on December 3, 2024. Between then and the Council Meetings for second and third readings held on February 18, 2025, Council welcomed community input on the proposed budget through the Let’s Talk platform and two community Open Houses held on January 28 and February 6, 2025.
After Council’s deliberation in February, the approval of Lake Country’s 2025 Operating and Capital Budget, as part of the five-year financial plan, will result in a 6.45 percent increase on the municipal portion of property taxes, which represents an approximate increase of $169 (or $14 monthly increase) on a typical (median) single-family home assessed at $930,000.
"Council has worked diligently to strike a balance between maintaining the service levels our community expects during this time of rising costs and challenging times while implementing a tax increase that we anticipate will remain stable in the years ahead" Mayor Ireland said. "This stability and predictability enable effective long-term planning, allowing us to continue delivering exciting new projects for the community without the burden of significant tax hikes each year."
As the District navigates cost pressures in areas such as policing, transit and infrastructure, Council is focused on balancing the need to address rising operational costs, continuing to improve and invest in existing services and infrastructure while minimizing the impact on taxpayers. The proposed budget outlines an increase of 6.45% on the municipal, policing and fire portion of taxes, reflecting Council’s commitment to meeting the District’s financial needs without placing excessive burdens on the community.
“We believe this budget sets our staff up to deliver some incredible projects that enhance the community in addition to providing the day-to-day services everyone expects” Trevor James, Chief Financial Officer says. “We really appreciate all the questions, comments and feedback received from the community during the engagement process.”
View the 2025-2029 Financial Plan
For more information contact:
Trevor James, CPA, CA
Chief Financial Officer
tjames@lakecountry.bc.ca
Thank you to those who attended our open houses! If you've not taken the opportunity to ask your questions about the budget, please use our Q&A feature below which will be available until February 18th. All questions/responses will be relayed to Council for the February 18th council meeting and third reading of the proposed budget.
Mark your calendar, the Budget Open Houses will be held:
- Jan 28, 2025, 5pm - 8pm, George Eliott Secondary School
- February 6, 2025, 3pm - 6pm, Municipal Hall Council Chambers
We hope you will participate in person and take the opportunity to speak with District staff. The material shown at the open houses is available on this page under 'Reference Documents' on the right side toolbar. This also includes the proposed five-year financial plan which includes the 2025 budget.
Council looks to ensure stable tax rates for residents over next several years
On Tuesday December 3rd beginning at 5:30 pm Council will consider the five-year financial plan (2025-2029) which includes the 2025 budget.
As the District navigates cost pressures in areas such as policing, transit and infrastructure, Council is focused on balancing the need to address rising operational costs, continuing to improve and invest in existing services and infrastructure while minimizing the impact on taxpayers. The proposed budget outlines an increase of 6.45% on the municipal, policing and fire portion of taxes, reflecting Council’s commitment to meeting the District’s financial needs without placing excessive burdens on the community.
Top of Form
A 1% tax increase translates to approximately $223,000 in revenue. The impact of the proposed 6.45% property tax increase to Lake Country property owners would be approximately a $178 yearly increase (or $15 monthly increase) on a single-family home assessed at $1 million.
Get Involved!
As 2025 budget deliberations start on Tuesday evening, it is important that everyone get involved and let Council know your thoughts on the proposed budget. Budget details can be found at Let's Talk - Lake Country. Review the information and leave your questions/comments on the official webpage. Staff will ensure that all feedback received from the community on the 2025 draft budget is relayed to Council prior to adoption of the five-year financial plan.
Mark your calendar –Community Open Houses will be held January 28 and Feb 6, 2025. We hope you will participate in person and take the opportunity to speak with staff, Mayor and Councillors. Stay informed as more content is published.
Important to note – aside from District official social media channels (Facebook and Instagram) – staff do not regularly monitor comments or conversations on external pages and groups.
Thank you for your contribution!
Help us reach out to more people in the community
Share this with family and friends