2024 Annual Report Draft

Financial reporting

Financial sustainability

2024-2027 Financial Plan Municipalities are required by the Community Charter to adopt a balanced five year financial plan by May 15 every year. The City’s financial plan includes all revenues and expenses in the general, water and sewer funds. This includes operating costs to maintain infrastructure and provide services to our residents, as well as the costs associated with major capital projects. Property tax rates are set during the financial planning process based on how much revenue is required to maintain Council-approved levels of services to our community. Public feedback is sought through open Council budget sessions and the City website, prior to final adoption. More information: courtenay.ca/financialplan

2024 General Operating Budget in $ millions

Operational Services Water Services Sewer Services Police Services Recreational and Cultural Services General Government Expenses

$11.4

$10.1

$8.9

$8.6

$6.9

$5.5

$4.2

Solid Waste Services Development Services Fire Services Financial Services Engineering Services

$3.4

$3.3 $3.3

$1.8

0

2

4

6

8

10

12

Important 2025 property tax dates

• property tax notices mailed.

May 2025

• Tax payments due. • Provincial Home Owner Grant applications due to the province. • Tax Deferment applications due to the province. • Last day to avoid 10 per cent penalty on unpaid current taxes and unclaimed grants.

July 2, 2025

• 10 per cent penalty added to all unpaid current taxes and unclaimed grants.

July 3, 2025

• Tax Installment Preauthorized Payment Plan (TIPP) deductions start for the next taxation year.

August 1, 2025

• Statutory property tax sale for all properties three years in arrears of taxes.

September 29, 2025

• Last day to pay current year taxes prior to rollover into arrears category. (Arrears and delinquent category taxes are subject to a daily interest.) Last day to claim Home Owner Grants and retroactive Home Owner Grants.

December 31, 2025

For more information regarding City property taxes, visit: courtenay.ca/tax

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City of Courtenay | 2024 Annual Report