Peachland homeowners will see a property tax increase of about $111 in 2025.

Council approved the provisional budget at its Dec. 3 meeting. The budget includes a 6.65 per cent property tax hike. The average assessed home value for 2024 is $884,000, based on BC Assessment data. For 2025, the estimated value is $882,000, using the BC Assessment Roll from Nov. 1, 2024.

The district also collects taxes for other governments, including the regional district, hospital, library, and schools.

Council made changes to the provisional budget. They moved the Princeton Avenue low-rise barriers project to Priority 1. This project will cost $85,000, with $20,000 coming from taxes and $65,000 from reserves. The outdoor shower project at Swim Bay, costing $10,000, was also moved to Priority 1 and will be funded from reserves.

The Princeton Avenue crosswalk project, estimated at $144,200 and dependent on grant funding, was moved to Priority 2.

Capital projects are funded through grants and reserves, with no impact on taxation.