Kelowna’s 2024 budget, approved with an 8-1 vote, features a 4.72% tax increase, slightly lower than initially proposed in December. The average property owner will see a $112 increase from 2023. Figures presented to council reveal that while the final tax demand rose by just over $1 million, new construction revenue exceeded projections by slightly more than $1.3 million, resulting in an overall tax demand of $184.9 million for 2024. Overall spending, including non-taxation-funded capital expenditures, is $854.9 million, $294 million more than expected.

Some councilors expressed concerns about the city’s spending, but most supported the budget and outlined the benefits residents will receive from new capital projects. Kelowna’s tax increase is still lower than other Okanagan communities such as Vernon and Penticton. Some property owners may receive a tax break if council approves a new proposal from the finance department.