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On Monday, Mar. 28, the Westbank First Nation (WFN) approved its 2022-2023 annual budget with a tax increase of a little more than 5%.
The budget was reviewed and accepted by the WFN Advisory Council which represented more than 10,000 residents on WFN lands.
The number of total residents increased to 4,608 in 2022 and businesses grew to about 550 in total. This makes WFN the 58th largest registered municipality in BC.
According to the 2022 BC Assessment data, the value of taxable property on WFN lands increased by 30.7%.
New construction on WFN lands saw a 6.58% increase totalling $148.09 million.
In 2022, property taxation revenues will total $17.3 million, a 7.5% increase over 2021.
With average residential property’s gross taxes up $118, or 5.35%, 4,608 taxable residents will pay an average of $1,745 after WFN’s Homeowner Grant.
Property tax notices will be mailed in late May.
An annual update to residents from Chief Christopher Derickson and Advisory Council Acting Chairperson, Ludwig Teichgraber will be available on wfn.ca May 25th at 4PM.
Thumbnail photo credit: contributed
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