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 construction climbs to $30.22 million
The City of Cranbrook is continuing to see strong economic growth in 2018 with $30.22 million in total construction so far this year compared to $9.6 million in 2017
According to the City of Cranbrook’s Office of Innovation and Collaboration, the City has issued 133 building permits as of June 30th from the start of 2018 compared to the same period in 2017, which correlates to $30.22 million in construction costs so far.
Of the $30.22 million in construction through 2018, $16 million of it was completed between April 1st and June 30th.
“It’s very important for the City,” Pratt told Summit 107. “We’re really getting noticed, like, there’s some big developers contacting us now looking at possibly coming in here and investing in our community.
Breaking down the stats from the second quarter of 2018, $11.3 million of the $16 million in construction was for multi-family residential, an increase of $11.25 million compared to the same quarter in 2017.
According to the report, $3 million was for general residential living while $900,000 was commercial development and $662,000 was industrial.
Click here for a detailed look at all Cranbrook construction in the second quarter of 2018, including additions, alterations and new construction (between April 1st and June 30th).