City Budget

The City of Colwood is committed to sound financial management and is required by legislation to present a balanced budget every spring.

"Residents deserve careful stewardship of their tax dollars, especially in today’s challenging economic climate," said Mayor Doug Kobayashi. "We are taking a thoughtful, disciplined look at the full Financial Plan, with a clear focus on value for money, responsible spending, and long-term sustainability. Our priority is to strike the right balance: protecting affordability for residents while ensuring we continue to deliver the essential services that support a safe, livable, and high-quality community.”

How are budget decisions made?

Colwood's Official Community Plan sets out the community's vision, goals, and objectives. At the beginning of each term, Council creates a Strategic Plan that identifies key priorities requiring attention. These form the basis for Service Plans outlining the priorities for each service area. Council makes budget decisions to support necessary services and initiatives, which form the basis of the 5-year Financial Plan.

Frequently Asked Budget Questions

What is the Service Review? 

Each fall, staff facilitate a Service Review process to reaffirm Council's service expectations and clarify priorities for the coming year. 

What is an operating budget?

The operating budget outlines the City's spending plan to implement Council's goals and priorities based on the Strategic Plan and expectation set in the Service Review. It is based on day-to-day operations of programs and services such as road maintenance, parks, fire rescue and policing. Examples of operating expenses include salaries and wages, insurance, supplies and equipment. 

What is a capital budget?

The capital budget outlines expenditures and funding for assets and related programs, such as sewer infrastructure, new roads, bridges, trails and parks.

Does the City access grant funding?

Yes. Provincial and federal grants allow the City to deliver on major projects while minimizing impact on property tax. Preparing 'shelf-ready' plans allows staff to quickly take advantage of grant opportunities as they emerge. 

What charges are included on the property tax notice?

Only about half of your tax bill is municipal tax. In 2025, about 50% of the charges on a Colwood residential property tax notice are collected for other agencies, such as the Ministry of Education, Capital Regional District, BC Transit and the Hospital Board. All these charges go on one tax notice as an efficient billing process where residents don't have to deal with multiple bills. 

2026 Budget process

View the current 2025-2029 Financial Plan [PDF/10.7MB] which was on the May 12, 2025 Council agenda.

The draft Financial Plan details how the City will keep pace with maintenance and repair of expanding infrastructure as well as serving and protecting the safety of a growing number of residents. It also accounts for large capital projects like the waterfront walkway, pedestrian and cycling bridge, sidewalk, cycling intersection and crosswalk improvements, and plans for operations and recreation facilities, public washrooms, and park improvements. 

Additionally, the Financial Plan includes funds set aside for the maintenance, repair and anticipated replacement of an estimated $350M+ in assets and infrastructure: sewer and storm systems, roads, bridges and other critical assets. This reserve fund plans for the scheduled replacement of aging assets, guards agains sharp tax increases when breakdown occurs, takes advantage of investment returns, and supports community resilience.

Colwood residents are encouraged to attend meetings (see meeting table below) to learn more and provide input. Feedback is also welcome by email to finance@colwood.ca.

Check the Meeting Calendar for information about all City meetings.

Property tax notices are prepared after the financial plan and tax rate bylaws are adopted by Council. Tax notices are issued near the end of May and tax payments are due on the first business day after July 1st.

Read more about Property Tax.

Colwood Financial Plan and Financial Statements

Find the City's Financial Plan, Sustainable Infrastructure Plan and Financial Statements at www.colwood.ca/FinancialStatements

What is Colwood's overall direction for the future?

The Colwood Official Community Plan outlines the City's vision, goals and objectives based on the input of more than 1400 direct interactions with residents and stakeholders.

Read about Council's Strategic Priorities.

Additional guiding documents include the Transportation Master Plan, Economic Development Strategy, the Parks & Recreation Master Plan and others. Find them all at Colwood.ca/Plans.