Courtenay Annual Report 2025 draft

Financial reporting

Tax sale In accordance with the Local Government Act, the City of Courtenay held its annual tax sale in September 2025. Tax sales are a statutory process required each year for properties with unpaid property taxes from the previous two years. The sale is conducted by public auction, with properties offered at an upset price that includes outstanding taxes, penalties, interest and applicable fees. Public notice of the tax sale was provided in accordance with provincial requirements, and the process was administered to ensure transparency, due diligence and compliance with legislative obligations.

2025–29 financial plan Municipalities are required under the Community Charter to adopt a balanced five-year financial plan by May 15 each year. The City’s 2025–29 financial plan includes all revenues and expenses within the general, water and sewer funds. This covers operating costs to maintain infrastructure and deliver services, as well as funding for major capital projects over the five-year period. Property tax rates are established through the financial planning process based on the revenue required to maintain Council-approved service levels and respond to community priorities. Public engagement for the 2025–29 plan included use of the City’s online budget simulation tool, Balancing Act, along with open Council meetings and information posted to the City website prior to final adoption. courtenay.ca/financial-plan

2025 general operating budget in $ millions

94 | City of Courtenay