Up, Up and Away

...in Coldstream's beautiful property tax balloon.

Three months ago, it was 6.31 per cent.
Now it's 6.59.
Vernon's increase is roughly one-third of ours, to their credit.

A point-two-eight increase over the previously planned increase isn't much, you say?
Mayor Jim Garlick agrees, saying "It's not going to be a considerable amount," (quoted) in the Morning Star on January 27th of this year.

No, it's not a considerable amount.
It's downright outrageous, especially during the economic downturn.

Quoting climbing costs, the Morning Star story today affirmed the municipal tax amount is $975 for the average home in Coldstream valued at $447,000.  Odd way to state it. 

No strangers to climbing costs, Coldstream households are additionally facing a 7% Hydro increase and a 17% water increase.

Not surprisingly, Coldstream Council seems to now need a legal fee contingency, presumably to fight the people who are challenging them (the line grows longer each week due to their over-governance and under-service).

Reduced revenues are also stated (since the closure of Consumers Glass, there should be a "Duh" category, not to mention the fact that a Kidston Road resident refused to fund Council's pet project--the bike path -- which Council erroneously called 'infrastructure').

Also included are increased transit costs (making up for low ridership--perhaps people are all riding bikes?--on all but the Okanagan College runs), additional net operating costs (government employees' contracts expire soon, and no provisions are in place to fund employees' defined benefit pension plan), machinery and equipment reserve fund (how did previous administrations get along without it?), transferring funds to a drainage reserve (even a transfer costs money???, this is often called borrowing from Peter to pay Paul), and "dollars for the pavement management program".    Coldstream could save a fortune on pavement management if--during spring thaw--reduced legal axle load signs were placed on roads (as years-ago  administrations did).

There's also a scapegoat in the new RCMP contract, which municipalities all over BC weren't aware of (nor apparently was Minister Shirley Bond).

We mustn't forget there is interest for the mechanic shop borrowing of funds, plus the actual stated hike of 1.34 per cent (of the 6.59 per cent overall).  Strange that the interest from borrowing wouldn't be included as part of the cost of borrowing.  But that would make the 1.34 per cent climb to an unpalatable level.

Creative accounting.
Even the former Arthur Anderson company liked that name.

"Climbing costs are unpalatable," offers Kia, adding "I keep a level eye on my kibble budget."

You're also not a Fat Cat at the public trough.