The municipality of Summerland has adopted its financial plan for 2025.

The plan calls for an overall property tax increase of 7.25 per cent. Council will review property tax mill rates in April to determine how this tax increase will be implemented.

The financial plan for 2025 to 2029 also calculates the effects of rising rates for garbage and recycling, water, sewer and electrical rates.

Garbage and recycling rates are to increase by 6.17 per cent, water rates will rise by seven per cent, sewer rates will rise by 8.08 per cent and electrical rates will increase by 5.66 per cent

For a typical home in Summerland, with an assessed value of $878,808, the total effect of these increases will work out to $350 a year or $29.26 a month, a report from the municipality states. The property tax increase alone works out to an increase of $129.95 over last year鈥檚 amount.

For the year, property taxes are estimated at $2,112, garbage and recycling is expected to cost $244, water is expected to cost $1,046, sewer is expected to cost $476 and electricity is expected to cost $1,863.

This is a total of $5,741, up from the 2024 amount of $5,391 for the same property.

The budget received first three readings at the Feb. 11 council meeting.

The financial plan must be adopted no later than May 15, and all proposed expenditures, funding sources and transfers must be included in the plan.

The property tax increase in 2025 is greater than in past years. In 2024, the increase was 5.38 per cent, in 2023 it was 3.76 per cent and in 2022 it was four per cent.

However, Summerland mayor Doug Holmes has said property taxes in Summerland are lower than in other Okanagan communities. He said a house in Summerland with an assessed value of $850,000 would have a tax bill of $2,112.31. A house in 琉璃神社 with the same assessed value would pay $2,332.61. In Peachland, the bill would be $2,536.57, in Vernon it would be $2,740.01 and in Penticton, it would be $2,937.47.