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RDCK approves Nelson Aquatic Centre borrowing and tax implication

The average home owner in Nelson and area will pay about $24 a year in extra taxes for the big Aquatic Centre upgrade.

The RDCK board has approved the borrowing of $4.5 million over five years.

That breaks down to just under $7 per $100,000 of property value – or about $24 for a $350,000 home.

Rural Director and Recreation Commission chair Ramona Faust acknowledges taxes already went up for the recent emergency ceiling repair …but these bigger renovations are badly needed .

She says the RDCK saves up to $700,00 in interest and set up costs by borrowing the money for five years instead of ten.

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