Abbotsford – The draft 2023-2027 Financial Plan Bylaw for the City of Abbotsford will be presented at the Special Committee meetings happening this week.
These meetings are scheduled to take place over two sessions, the first on Wednesday March 1st and the second on Friday March 3rd. Both sessions are from 1pm to 5 pm in the Matsqui Centennial Auditorium at 32315 South Fraser Way, Abbotsford.
Meetings will be web streamed live and then archived online at www.abbotsford.ca/watchcouncilonline.
Learn more online at https://www.abbotsford.ca/city-hall/finance.
A common theme in this year’s budget is the impact of rising prices. Various contracted services, property insurance, wages, fuel and more have seen significant price increases over the last year, putting pressure on municipal budgets. The 2023-2027 budget being presented reflects these challenges, as well as efforts to mitigate the required tax and fee increases.
The proposed general property tax increase for 2023 is 5.48% plus a 0.50% infrastructure levy for a total of 5.98%.
The major drivers of this year’s budget are summarized in the four sections below that mirror the City’s financial fund structure: General, Airport, Waterworks and Sanitary Sewer.