Colwood Council is working to reduce the proposed property tax increase for 2026, bringing it down from the draft 7.54% to a targeted 4.25% while continuing to fund essential community services.
The City is facing significant cost pressures, including rising costs for policing and fire services, union contract increases, and other non-discretionary expenses. Despite these challenges, Council has directed staff to find savings to reduce the overall tax impact on residents.
Proposed reductions will come from measures such as holding off on filling new or vacant positions, introducing a debt reserve fund, and trimming budgets for non-essential services.
Council is also mindful of the need for responsible, sustainable budgeting.
“While we are focused on reducing the impact on taxpayers this year, we also want to ensure we are making decisions that remain responsible in the long term,” said Mayor Doug Kobayashi. “Cutting too deeply now only to see larger increases later does not serve our community.”
Colwood has maintained a strong track record of responsible financial management, keeping average annual property tax increases below 5% since 2020.
Council will continue its budget deliberations and review the proposed 2026 financial plan when it returns to Council Chambers on March 30, 2026.
Residents can learn more about the City’s budgeting process and follow updates at www.colwood.ca/Budget