RDCO financial plan focuses on meeting the needs of a growing region

On March 20, 2025, the Regional Board for the Regional District of Central Okanagan (RDCO) and Central Okanagan Regional Hospital District adopted their 2025-2029 five-year financial plans. The Local Government Act requires that the RDCO develop and approve a five-year financial plan by March 31 each year.

The 2025-2029 financial plan outlines a total operating budget of $70.8 million for the organization in 2025, up 7.2% or $4.8 million from $66.0 million in 2024.

"This financial plan delivers what matters most to our community—safety, essential services, and park investments for our rapidly growing region," says Loyal Wooldridge, Chair of the Regional Board. "We are enhancing emergency management, upgrading critical infrastructure, and prioritizing environmental stewardship to meet the evolving needs of our residents. Every dollar is invested with care, ensuring a safer, healthier, and more sustainable future for everyone in the Central Okanagan."

An estimated $34.2 million in capital and infrastructure improvements are planned for 2025. These costs are funded predominantly through reserves, with funding from grants where available. Projects funded from the Growing Community Fund grant in 2025 include:

• $4,000,000 in grant funding for engineering, design and construction of a new facility for Central Okanagan Search and Rescue (COSAR).
• $1,050,000 in grant funding for advancing the implementation of a curbside food waste collection service.
• $275,000 for playground replacements in Mission Creek and Scotty Creek parks.

Unlike municipalities, regional districts do not have one tax rate. This means that the impact on each property owner varies depending on where they live, the services they receive and the value of their property. Preliminary average tax impacts for each community within the Central Okanagan are outlined below:

The Regional District does not collect taxes directly. The RDCO requisitions funds from each local government on behalf of their residents and the Province which collects rural property taxes in each electoral area. It is important to note that the RDCO serves as the primary local government for Electoral Area East and West, while municipalities pay an RDCO tax rate in addition to their municipal tax rate.

Residents can expect to receive their tax bill in the mail in June, with property taxes due to the Province by July 2, 2025. To view the RDCO specific breakdown for their taxes, electoral area residents can search their address in the tax estimator tool at rdco.com/tax-estimator. 

The draft financial plan was presented to the Board in January 2025, and members of the public were invited to provide questions and comments on the plan between January 10 and February 6, including an in-person meeting on January 30.

For more information on the Regional District of Central Okanagan’s financial planning process and to view the detailed plan visit rdco.com/financial-plan.

Homeowner grants and tax deferral

Central Okanagan property owners may be eligible for the Provincial Homeowner Grant. Information will be available on your Property Tax Notice or visit the Ministry of Finance website.  Some property owners may qualify for assistance through the BC Property Tax Deferment Program.  Information about this program and who qualifies is available on the BC Government website. 

CORHD 2025-2029 Financial Plan

The Central Okanagan Regional Hospital District (CORHD) Board also adopted its five-year financial plan bylaw on March 20, 2025.

"The 2025-2029 financial plan reflects our steadfast commitment to enhancing health care services and infrastructure for our community," says Tom Dyas, Chair of the CORHD. "These investments are crucial for ensuring that our health care facilities are equipped with the latest technology and resources to meet the evolving needs of our growing and aging population. I am particularly proud of the Board's support for the upgrades to Cottonwoods Care Centre, a vital facility that will significantly improve the quality of care for residents for years to come."

Each year, ratepayers within the Hospital District contribute up to 40% of the funds for approved capital and equipment services. The 2025 budget includes $40.3 million in capital project funding requested by Interior Health, of which $25.7 million is for new projects. This represents a $7.8 million increase from the previous year. This increase is largely due to the Cottonwoods Long-Term Care project, which is a $74.75 million project that will begin in 2025 and is expected to take four years to complete.

In late 2023, Interior Health signed a memorandum of understanding with the seven Interior regional hospital districts to strengthen information sharing, transparency and collaboration between Interior Health and the regional hospital districts and outline additional expectations regarding updates on funded and proposed capital projects.

“The Board is reassured by the progress we have made working alongside Interior Health and their commitment to provide more regular project reporting and additional capital forecasting so that we can create stable financial plans that meet the care needs of residents now and into the future,” says Dyas.

Each Central Okanagan household will contribute $19.81 for every $100,000 of assessed value towards valuable capital improvements and health equipment in 2025. This is a 3.2% increase compared to 2024.

Projects funded by the financial plan in 2025 include:

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• $19.3 million (total $74.75 million) for the redevelopment of Cottonwoods Long-Term Care
• $2.2 million (total $6.0 million) for MRI replacement and addition at Kelowna General Hospital
• $1.7 million for boiler replacement and building automation system upgrades at Brookhaven Care Centre
• $1.6 million for pharmacy storage system replacement and expansion at Kelowna General Hospital