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What will the pool cost me?

Through annual property taxes, owners of property within Golden and Electoral Area A will contribute to both the loan repayment and operating costs of the new Indoor Aquatic Centre. In 2022, the average residential property value in Golden is $451,976. The average residential property value in Electoral Area A is $465,042.

Capital Cost

Voter approval to borrow up to $18 million was obtained on October 15, 2022. The referendum enables the CSRD to obtain a loan for these funds over a 30-year term to develop the project.

As of the referendum date, the repayment of the loan will result in a residential tax rate of $0.40 per $1,000 of assessed land (and improvements) for residential properties in Golden and $0.38 per $1,000 in Electoral Area A.

On average, a residential property owner in Golden will expect to pay about $180 per year (for 30 years) and the average residential property in Electoral Area A will expect to pay about $175 per year.

Please use the calculator tool below to determine the specific annual capital loan repayment costs that would be applicable to your property over the 30-year term.  The annual cost is dependent on your property value (as identified on your 2022 BC property tax assessment), whether your property is in Electoral Area A or in the Town of Golden, and your property classification (residential, business, etc).

*Values used in the calculator tool are based on the referendum date of October 15, 2022. They are subject to change based on interest rates.

Property tax calculator

Operating costs

Operating costs include all costs to run the facility, minus the revenue received from pool user fees and other grants.  Operating costs also include money set aside in a capital reserve fund to cover the cost of future replacement of facility components.

Based on a cost analysis completed in conjunction with the Town of Golden, the operating costs of the facility are anticipated to be $940,000 per year. This includes a $125,000 annual contribution to a capital reserve account that will fully fund all capital replacements that may be needed over the first 10 – 15 years of the indoor facility.  Revenue projections are estimated at $220,000 per year for a net operating cost of about $720,000.

The operating cost estimate works out to approximately $0.25 per $1000 of assessed property (land and improvement) value, based on a 2022 residential assessment.  On average, a residential property owner in Golden and Electoral Area A will expect to pay approximately $115 per year to operate the facility.

Keep in mind that property owners currently pay into the operating costs of the existing outdoor pool in Golden.  On average, Electoral Area A residential property owners pay about $25 per year and Golden residential property owners pay about $110 per year.