COMOX, B.C. – The Town of Comox’s 2019 preliminary budget includes a 3.3 percent property tax increase.

Comox council members will be receiving a 2019 Preliminary Budget updates at this afternoon’s committee of the whole meeting.

In a report to the committee, the town’s director of finance Clive Freundlich noted that recalculated property taxes includes a one percent ‘asset replacement levy’ and adjustment for operational capacity lifts for a total increase of 3.3 percent.

That’s slightly up from the original projection of 3.1 percent.

Freundlich also noted in the report that the 3.3 percent equates into a $48.92 tax increase on the average single family home.

The town has a goal of raising $126,910,171 in funding over its five-year financial plan to meet planned expenditures.