The provisional tax rate for 2019 in Kamloops is down to 2.26 per cent, down from the previously announced 3.38 per cent.

That now translates to a $48 increase for the average home assessed at $408,000.

City Budget and Planning Manager Dave Hallinan says they’ve been able to lower the provisional budget by about $1,155,000.

“From the review of the provisional budget, we continue to go through the assumptions and the numbers that were determined,” he said. “We continue to take more current and updated information and then apply those assumptions into the numbers.”

The 2.26 per cent hike is before any supplemental items are considered by council.

There are 13 supplemental items in total – Hallinan notes if council approves them all, it could increase the tax rate by about 1 per cent.

Councillors will discuss the supplemental items at a budget meeting on February 5.

A public budget meeting is then planned on February 7 at the Valley First Lounge at the Sandman Centre.

Council is expected to finalize the budget – including supplemental items – on March 5, and they’ll approve and set the tax rate on April 16.