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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

Approval to borrow up to $18 million in the October 15, 2022, referendum will enable the CSRD to obtain a loan for these funds over a 30-year term to develop the project.

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).

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.

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.

Based on the average residential property value, the annual operating costs of the facility work out to about $135 for a residential property owner in Golden and $115 of a property owner in Electoral Area A. The operating cost estimate works out to approximately $0.25 per $1000 of assessed value of land and improvements, based on average residential assessments.

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. With a new indoor facility replacing the existing outdoor facility, these tax dollars will be applied to the costs of the new indoor facility.