At the May 14, 2025, Special Council Meeting, Council adopted the Five-Year Financial Plan Bylaw 2025 and the Tax Rates Bylaw.
The 2025 budget reflects an increase to the general municipal levy of $145.58 on the Town’s share of the tax bill for a home assessed at approximately $830,000. Council also approved the “Infrastructure Renewal Fund” increase to address the gap between available funding and the amount needed to maintain its infrastructure. Investing in this fund with an increase of $51.79 is important as it helps ensure our assets can continue to safely and reliably deliver services.
The budget supports the Town’s Strategic plan 2022- 2026, which includes key investments in parks and trails, the Comox Marina waterfront, and cost sharing with the City of Courtenay on the extreme weather shelter. It also reflects the Town’s commitment to emergency services, including the support of an additional police officer for a growing community.
“I want to genuinely thank our Comox staff team and Council for the ongoing discussion and diligence in looking for opportunities to reduce costs to our taxpayers during uncertain economic conditions,” said the Town’s Mayor, Nicole Minions. “We have and will continue to advocate for increased funding from senior levels of government to offset the costs to our taxpayers on improvements to infrastructure, facilities and other services.”
While property taxes are paid to the Town of Comox, only 45 per cent of every residential tax dollar stays with the Town to provide municipal programs and services. The remainder is allocated to service partners (Comox Valley Regional District, schools, hospital, library, Municipal Finance Authority and BC Assessment).
As required by the Community Charter, the Town updates its 5-year Financial Plan annually to balance the changing needs and priorities within the community and then establishes the annual Tax Rate bylaw.
For more information on the budget and tax rates for 2025, visit comox.ca/budget.