A building boom is giving a significant boost to the District of Sooke’s finances.
Up to Sept. 30, the district collected $748,585 in building permit fee revenue, representing a 55-per-cent increase from the same period last year, a third-quarter financial report to council states.
“Spending is on track for most items, with no specific budget variances anticipated at this time that can’t be managed with savings in other areas or increased revenue,” writes Raechel Gray, director of financial services.
Sooke taxpayers are also doing their part to help with the district’s finances.
So far, 93.9 per cent of property taxes have been collected – similar to previous years. There was no property tax sale this year.
Sooke has a total operating budget of $29.7 million. Budget talks are underway for 2022, with a provisional budget expected to be tabled at the Nov. 8 council meeting.