Grand Forks city council unanimously approved a two per cent hike in general taxation revenue for the city, upping overall city revenue by approximately $76,000 from 2019, at a May 11 council meeting.
To bring in $3,881,399 in total revenue, the city has adjusted its residential tax rate down slightly from last year. In 2019, homeowners were charged at a rate of 4.642; in 2020, they’re looking at a rate of 4.5786. According to the city, the 2020 municipal taxes for an average single family residential property in Grand Forks, with an assessed value of $251,000, will sit around $1,149.
The city had previously aimed to raise municipal taxes by as much as four per cent for 2020, but abandoned that plan after the COVID-19 pandemic began impacting local jobs.
The province has allowed for taxpayers in classes 4 through 8 (industry, business, managed forest) to skirt late penalties until October, but Grand Forks CAO Duncan Redfearn said that no breaks were available for residential taxes or utilities.
According to BC Assessment, residential properties in Grand Forks jumped by an average of 2.6 per cent between assessment periods in 2018 and 2019. Downtown homes climbed by an average of nine per cent in value over the same period.