At the Local Advisory Committee Meeting for Tunstall Bay Water, staff were asked to find alternatives for repayment of the short-term loan for a reservoir that would extend the repayment terms beyond five years and result in a reduction of the annual parcel tax of $848.
Staff have determined that through the use of interim financing, the loan can be extended to nine years. This would result in a reduction of the annual parcel tax from $848 to $565 and be in place for nine years.
This recommendation is going to Council on April 24, 2023 as part of the 2023-2027 Five Year Financial Plan. More information can be found here: TB Water System LAC Meeting – 28 Mar 2023 – Agenda
Feedback to the proposal can be provided at budget@bimbc.ca
Parcel taxes are included on your property tax bill, not on your water bill. If you defer your property taxes, the parcel tax will be included in the deferment.
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