2024-2028 Financial Plan
On March 25, 2024, Council passed a motion to approve the Central Saanich 2024-2028 Financial Plan, with an average home tax increase of 7.20%. A final version of the 2024 Budget will go before Council April 8 and 22 for bylaw approvals. The final version of the plan was updated during budget deliberations to reduce the impact on tax payers so the average home tax increase for 2024 is now 7.20% or $172. This will continue to provide services expected from the community as well as invest in needed infrastructure replacements and new active transportation infrastructure.
On October 23, 2024, Council approved the amended 2024-2028 Financial Plan, related to Operations, Strategic Implementation Plan and Capital Plan. Amendments are summarized in Appendix D, page 108 of the Plan.
Financial Plan 2024
* The Community Charter requires local governments to approve a five-year Financial Plan Bylaw by May 15 before they adopt the annual Tax Rate Bylaw.
About the budget
The Financial Plan finances for the District’s 2024-2027 Strategic Plan as well as its regular operations, ambitiously responding to community feedback with modest impact to taxpayers. The budget strives to ensure the services support a great quality of life in Central Saanich while managing your tax dollars responsibly; for example, planning to build a bike lane when a watermain replacement project is underway and road work is required.
Like all municipalities, the District is facing a variety of increased core costs such as labour contracts, construction costs, inflation, and rising vehicle and equipment costs. Each year the District works to balance increases to property taxes against services provided and long term planning for infrastructure replacement
2024 Financial Plan highlights
- The Central Saanich 2024 budget is balanced at approximately $61.8 M. The budget maintains the service levels and assets expected by the community.
- Included in the plan for 2024 are $1.9 million of Projects and Strategic Initiatives, $3 million for improvements to our active transportation network, and continued escalated funding for both new and required future infrastructure replacements.
- In recent years, we have been successful in receiving a number of grants. We were awarded 9 grants in 2023 for $7.4M.
- The 2024 proposed property tax increase, based on the average home, is $172, approximately $14 per month.
- The plan eliminates business license renewal fees
- The plan also addresses the need for increased staffing to deliver the ambitious capital plan and number of strategic projects
Your taxes
The municipal budget makes up approximately half of property tax bills; the other half is collected for regional agencies; property taxes are mailed in May.
The 2024 average home tax increase is 7.2%, or $172.
The budget process
Budget presentations to Council:
- Monday, March 4, 2024, Budget Introduction and Operations presentation – Click here to access
- Monday, March 18, 2024, Capital Plan and Strategic Implementation Plan - Click here to access
Thank you for your interest in the budget. The public engagement period has now ended. Feedback on the budget can be emailed to communications@csaanich.ca or you can speak with finance staff by phoning 250-544-4204—your input will be considered as we draft future budgets.
Budget documents
- 2022 Asset Management Plan and Long-Term Financial Strategy
- Strategic Plan 2024-2027
- 2024 Greater Victoria Public Library Budget [PDF - 1 MB]
- 2024 Budget Overview
Previous Financial Plans
Annual Budget and Five-Year Financial Plan
Every year, we develop an annual budget outlining how tax dollars are invested to support our businesses and residents. We include a five-year balanced financial plan to guide our strategic investments and service plans while keeping property tax, utility fees, and user fees affordable over the long term.
To balance the budget, we carefully analyze the level of services required to meet the expectations of the community, and we balance those against realistic taxation and user fees levels.
Long Term Financial Framework
The municipality has a long-term financial framework focused on five areas:
- Recognized value for services
- Predictable infrastructure investment
- Competitive property taxes
- Responsible debt management
- Improved reserves and reserve funds
Financial stability is fundamental to the health of the community. Only with stable and sufficient revenues, and careful planning of expenditures, will the District be able to provide the important services residents need and enjoy.