On Monday, November 10, Council will receive the proposed 2026–2030 Financial Plan for review ahead of December’s budget deliberations. The plan outlines the City’s priorities, fixed costs, and proposed budget changes for the coming year.
The 2026 Draft Financial Plan includes a 6.74 per cent operational tax increase to maintain service levels and address inflationary and contractual cost pressures.
The proposed operational tax increase is made up of the following:
- 2.88 per cent to maintain current service levels
- 2.15 per cent to offset reduced investment income due to Bank of Canada interest rate changes
- 1.35 per cent for RCMP contract and support costs
- 0.36 per cent for Council-approved service enhancements
Some items in the proposed 2026 budget remain under review and are open to public input and Council’s deliberations in December.
Financial commitments made
Within the 2026 budget, the Active Living Centre funding is a portion of the budget that has been previously approved as part of the 2022 voter-approved referendum.
This 3.5 per cent annual tax commitment is in place through 2027, reduced to approximately 2.8 per cent in 2028 to fund long-term project debt, and ease the financial impact on residents. This is required for the $121 million Active Living Centre facility – a major community investment built into the City’s long-term financial plan.
Additional tax revenue from new construction is not yet reflected in the draft budget. Updated information from BC Assessment, anticipated later this month, will be presented to Council in December and may help offset the proposed tax increase.
Provide input on the draft budget
The City of Vernon is inviting the community to review the proposed financial plan and share their feedback before final decisions are made.
Public engagement opportunities include:
- Online at engagevernon.ca/budget – Complete the survey from November 10 to November 24. Printed copies of the survey will also be available for pick up at City Hall.
- In-person Open Houses for public input:
- November 18 at Silverstar Brewing (2933a-30th Avenue) – 3:00 p.m. to 6:00 p.m.
- November 19 at City Hall, Council Chambers (3400-30th Street) – 11:00 a.m. to 1:00 p.m.
Next steps
The results of your input will be made public and shared with Council ahead of the December 1 meeting where Council will deliberate on the 2026–2030 Financial Plan.
The City remains committed to balancing community priorities with the need to fund essential services and maintain fixed costs.
Read the Proposed Financial Plan Council Memo. The Draft Financial Plan will be available on November 10 for viewing on engagevernon.ca/budget.