Both Cranbrook and Kimberley are under the average property tax gap of 2.60 between residential and business for B.C communities: Cranbrook’s property tax gap is 2.57 and Kimberley’s is 2.54.
- From 2010 to 2015, Kimberley lowered its Municipal Property Tax Gap by 6.6% (Total Average Property Tax for Kimberley is $7,178). From 2010 to 2015, Cranbrook lowered its Municipal Property Tax Gap by 15.5% (Total Average Property Tax for Cranbrook is $6,743.)
Cranbrook tops $34 million in year-end construction values
The largest city in southeastern B.C. begins a new year with strong economic evidence that it will be the place to invest in 2018
The last two years have set a new precedent for the Cranbrook-Kimberley Development Zone. In 2016, the City of Cranbrook saw a 50% growth in construction values over the previous year. Those values, which totalled $26,009,231, shot up once again in 2017 for a total of $34,412,242.
Institutional projects went up $12 million, driven primarily by the College of the Rockies’ new trades facility, which is set to be complete April 2018. The commercial sector also saw a $3.3 million increase for a total of $5,451,182 in 2017.
According to David Kim, Chief Administrative Officer for the City of Cranbrook, there is a lot of confidence in the local economy. On the horizon are some significant projects that will add up to as much as $20 million in the first part of 2018.
To read more and hear an audio clip from Kim, click here.