Each year, under Section 165 and 166 of the Community Charter, the City must develop a five-year financial plan and undertake a public consultation process before the plan is adopted. City Council and staff work together to develop a plan that supports the needs of the community, aligns with the Cranbrook Strategic Plan, and keeps property taxes stable and affordable.
The budget process begins with planning sessions between City Council and senior staff where projects are identified and categorized based on importance, and eventually form the basis of the Five-Year Financial Plan. Members of the public are invited to attend special budget meetings and submit comments and questions in writing. Council receives a large amount of information and directs staff to make changes where they feel better alignment with their objectives can be achieved. After a public consultation period, the budget is finalized through three readings and adoption of the Five-Year Financial Plan Bylaw. If necessary, a budget amendment bylaw will be presented to Council later in the year.
For 2021, Council approved a 2.35% municipal tax levy increase, which will result in approximately $4.60 per month increase on an average single-family home in Cranbrook.** One percent (1%) of the increase is collected solely to fund road related capital works projects like road surface maintenance and sidewalk replacements.
Impact of the 2021 tax increase on residential properties:
** Typical single family residential property assessed value per BC Assessment $327,000 for 2021.
Municipal tax dollars deliver core services that meet the needs of Cranbrook residents – things like police and fire protection; library; public transit; recreation facilities; road and sidewalk maintenance; and other city infrastructure. Service levels are reviewed annually to ensure they serve the community appropriately and remain sustainable.
Five-Year Financial Plan Bylaw (2021 to 2025):
2021-2025 Five Year Financial Plan Bylaw No, 4030, 2021
What your tax dollars pay for:
View Past Five-Year Financial Plan Summaries here:
2020-2024 Information Package *
2019-2023 Information Package *
2018-2022 Information Package *
2017-2021 Information Package *
2016-2020 Information Package *
* These documents contain dated information and are for historical reference only.