For Immediate Release
Town of Oliver 2026 Proposed Property Tax Increase
The Town of Oliver is notifying residents of a proposed $244 increase to the municipal portion of the average single-family household’s 2026 property taxes. This adjustment, outlined in the Draft 2026–2030 Financial Plan, is intended to strengthen long-term financial stability by rebuilding critical reserves.
Increasing reserve contributions—beginning with this tax change—will help ensure future Councils can fund major infrastructure projects identified in the Asset Management Plan. Financial stability means meeting current and future obligations without heavy reliance on borrowing or uncertain grants, supported by adequate reserves and predictable revenues.
Why the Increase Is Needed
1. Depleted Reserves
Reserves have declined since 2023 as withdrawals for capital projects exceeded annual contributions. Reserves are projected to drop to $1,372 per capita in 2026, down from $2,846 in 2023. Reserves are essential for infrastructure renewal, emergencies, and reducing debt dependence.
2. High Debt Levels
Debt peaked at $1,664 per capita in 2022 and is projected to rise to $1,502 in 2026 due to a major water project. Borrowing preserves reserves but reduces future capacity to add to them due to required repayment.
3. Reduced Grant Opportunities
Grant funding has supported several major projects in recent years, but future opportunities are expected to decline, with increased competition and higher required municipal contributions.
4. One-Time 2026 Costs
Several non-recurring expenses will temporarily reduce reserve contributions, including:
• 2026 Municipal Election
• Development Cost Charges (DCC) Bylaw Update
• Asset Management training
Municipal Taxes Compared to Other Communities
Sources:
2024 & 2025 – Local Government Data Entry (LGDE) – Province of BC website
2026 – Osoyoos, Peachland, Penticton, Summerland – as per proposed increases in recent budget presentations
Based on provincial data and proposed 2026 rates, Oliver’s municipal taxes (including our Parks & Recreation contribution to the RDOS) are estimated to be $224/year lower than Osoyoos, and well below Peachland, Penticton, and Summerland. Municipal taxes fund general government, protective services, transportation and public works, garbage, bylaw enforcement, and recreation. Water and sewer costs are funded through utility fees and parcel taxes.
Next Steps
The Draft 2026–2030 Financial Plan is now open for public review from January 13 to March 12, 2026.
Key dates:
• February 23, 2026: First, second, and third reading of the Financial Plan and review of the Draft 2026 Tax Rate Bylaw
• March 16, 2026: Adoption of the Financial Plan and first, second, and third reading of the 2026 Tax Rate Bylaw
• April 28, 2026: Final adoption of the 2026 Tax Rate Bylaw
Residents may provide feedback by:
1. Attending Coffee with Council - Monday, February 9, 2026, 10:00-11:30am, at Oliver Community Hall, Room #2
2. Emailing Mayor and Council (admin@oliver.ca)
3. Dropping off written comments at Town Hall
Inquiries:
Town of Oliver
250.485.6200