FORT ST. JOHN, B.C. – At the Regular Council meeting on Monday, April 8, City Staff will present a report for Council’s consideration on how to proceed with the budget shortfall.
According to City staff, each year, the budget process begins in the summer when City staff prepare the initial budget based on anticipated activities and the 2018 – 2023 Strategic Plan priorities.
In early January, BC Assessment then provides local governments with initial property assessment numbers. Those numbers are used to ensure a balanced budget. During this time, property owners are able to appeal their assessments and any adjustments are provided to municipalities by BC Assessment in April.
City staff share this year, the number of appealed assessments almost doubled to 171 from 99 last year and resulted in an unexpected reduction in assessed property values of $37.25 million.
Using the proposed tax rate during the 2019 Budget, this leads to a tax levy shortfall of $601,514.
Budget Process; CLICK HERE
Report from City staff; CLICK HERE