Provincial grants will help keep property taxes in check

  • Apr. 28, 2011 3:00 p.m.

Oak Bay has received a total of $219,852 from the province for the municipality’s share of traffic fine revenue and its small communities grant, up 42 per cent from 2010.

The small community grant of $91,068 will be used to keep property taxes low over the next two years, municipal treasurer Patricia Walker said.

“The grants this year are higher because the province is ‘front-end loading’ the grants, giving us more this year than they will in 2012 and 2013.”

The province did the same thing two years ago, giving Oak Bay $714,885.

To avoid large variations in property tax increases through 2013, the muncipality plans to spend one third of this year’s grant money and spread the rest over the next two years.

The $128,784 in traffic fine revenue received this year will go toward the police budget.

The province set aside $63.8 million in funding this year – $5 million for Greater Victoria municipalities to help communities with their budgets through the strategic community investment fund. Victoria and Saanich do not receive small community grants, but did receive $1,161,671 and $822,815 respectively.