On Nov. 4, when Summerland voters cast their ballots in the pool referendum, the question will be a choice between providing an amenity and minimizing the tax burden.
Voters will be asked if they support the borrowing of up to $50 million for the proposed Summerland Recreation Centre. The proposed facility, if approved, will be considerably larger than the existing 47-year-old Summerland Aquatic and Fitness Centre.
This decision will affect taxes for Summerland residents and property owners for the next 30 years.
If the municipality must borrow the full $50 million, taxes will increase over the next four years and a typical home in Summerland would then see its tax bill rise by $560 a year by 2027. This affects homeowners and renters who will likely see a rent increase to offset the costs for the property owner.
The money is significant, especially since there are a growing number of individuals and families in Summerland who are already living on extremely tight budgets.
The increase for the pool is not the only tax increase Summerland residents and property owners will face. Because of inflation, taxes are likely to rise, even without the pool.
The municipality has applied for a grant which would cover $25 million of the cost of the facility. However, it is not yet known whether this grant application will be successful. If the money comes through, the cost of the building would increase by an estimated $8.5 million.
If the voters reject the pool proposal, they would save on the tax burden necessary to service a $50 million debt. This would be easier on household finances than the effects of paying an additional $560 a year for the pool.
However, the municipality has said the existing pool is at the end of its life and it is becoming more difficult to repair and maintain. The worst-case scenario would see failures of critical parts of the pool, with no way to make the necessary repairs.
The choice for Summerland residents and property owners is whether to borrow money to provide a pool and recreation facility or whether to hold off on the project and avoid a noticeable tax increase.
No matter what the voters decide, the referendum will have an effect on the community.
— Black Press