For Your Information: Islands Trust 5.2% Tax Increase
Friday, March 14, 2025 at 9:42AM Islands Trust met yesterday to approve their draft 2025/2026 Budget that will increase your taxes 5.2% on July 1, 2025.
Overall planned spending is up 1.4% ($152,000) due primarily to Trust Council and Islands Trust Conservancy cost increases. A 1.4% increase is below inflation of 2.5%. (Consumer Price Index annual increase for Victoria BC at December 2024).
However, revenue from external sources (fees, grants, investment income) and internal funds (surplus, reserve transfers) has decreased resulting in a shortfall of $708,000 necessitating the 5.2% tax increase.
You can read more at eSCRIBE Agenda Package, starting at Page 184:
https://islandstrust.bc.ca/document/trust-council-quarterly-meeting-agenda-9/
A 5.2% increase is trending down from prior years.
Paul Duncan
