Property taxes to increase under RDN proposed budget
Property taxes will increase for residents under the proposed Regional District of Nanaimo 2012 budget if it's adopted.
The proposed 2012 consolidated budget will raise $38.41 million, an increase of 6.7 per cent compared to the 2011’s $36-million budget. The majority of expenses are in three key areas – 21 per cent on public transit, 16 per cent on solid waste management and 15 per cent on wastewater treatment.
The City of Nanaimo’s proposed contribution to RDN general services costs will increase to $13.04 million, compared to $12.028 million last year. How Nanaimo raises money for those services is determined by the city’s budgeting process.
Property owners in the electoral areas will see varying increases in their property taxes for general services. Those owners could also see additional increases above the general services property taxes depending on if the area receives local services such as fire protection, sewer, water and street lighting.
Under the proposed budget, residents in electoral area A (Cedar, Yellowpoint and Cassidy) will see an increase of $5 per $100,000 of assessed property value for general services. For area B (Gabriola, Mudge and Decourcey) and area E (Nanoose Bay), residents will see a $1 increase per $100,000 of assessed property value. Area C (Extension, East wellington and Pleasant Valley) will have a $5 increase.
Changes can still be made to the proposed budget, which will be finalized at the end of March. The budget will be reviewed again during the Feb. 14 RDN committee of the whole meeting and on March 13, the RDN will introduce the budget bylaw.
To submit questions or feedback regarding the 2012 budget, please call 250-390-4111 or e-mail email@example.com. For more information and budget reports, please go to www.rdn.bc.ca and click on the finance link.