The Regional District of Central Okanagan (RDCO) has released property tax increases and its draft financial plan for 2025-2029.

For the average home in the Central Okanagan, valued at $884,000, the 2025 property tax share will be $624, an increase of $53 from 2024. However, since funding is calculated differently for each member community and electoral area, tax increases will vary.

RDCO

The financial plan outlines $69.9 million in operating expenditures for 2025, a $4 million increase over 2024. The largest cost driver is staff remuneration, which makes up one-third of total expenses. Wages are expected to rise by $2.1 million, partly due to a new collective agreement. General operating costs will increase by $1.2 million.

RDCO

It also includes $24.6 million for capital projects which will be funded through reserves, grants, and, if necessary, debt. Reserve levels are expected to grow by the end of 2025.

The RDCO is also planning a permanent home for the Central Okanagan Search and Rescue team and conducting service reviews to ensure cost-effective operations. The RDCO Board will have a look at the draft report for review and feedback at its Jan. 16 meeting.