Sooke property owners can expect a decrease in municipal taxes this year due to a change in B.C. Assessment data.
The non-market property revenue increase has caused the average assessed home to drop to $805,722, while property taxes have decreased to $75 from the previously forecasted $100.
Sooke council voted for 6.99 property tax hike in 2023, down from the 9.3 per cent first proposed.
The increase is still more than double the district’s 10-year average tax increase.
After weeks of negotiations between staff and council, the budget was approved Monday.
Staff presented a draft operating budget of more than $44 million last month, but council told staff to come back with suggested cuts. Staff presented these scenarios three weeks ago, making $250,000 in cuts without affecting police officer and firefighter hiring plans.
The largest chunks of the budget will go to fire rescue, RCMP, roads and underground services, parks and environmental services.
The new budget includes capital spending on the Charters corridor, Church Road roundabout, Little River Crossing and Ravens Ridge Park recreation amenities project.
“I think we did the best we could do with the budget,” Mayor Maja Tait told Black Press earlier this month. “I know that any increased cost right now is hard for people to bear.”
Sooke’s budget numbers represent the municipal portion of taxes only. They do not include taxes levied by other agencies: School District 62, the Vancouver Island Regional Library, Capital Regional District, Island Health, the Municipal Finance Authority and B.C. Assessment.
Property Taxes are due July 4.