Tax notices should now be arriving around the city after council finalized 2021 property tax rates earlier this month.
City council, at a meeting May 10, adopted tax rates and financial plan bylaws incorporating a three-per cent property tax increase.
“Council has approved a conservative budget that also recognizes our need to maintain our $3 billion in infrastructure assets during these difficult COVID times,” said Nanaimo Mayor Leonard Krog in a press release.
The city says the tax increase amounts to an additional $68 per year for a typical househould’s tax bill. City council settled on the tax rate during a series of budgeting meetings in the fall.
“The 2021 tax rate addresses the continued impacts of COVID-19 on city operations and investments in building a healthy and connected community,” the release noted.
Tax bills are calculated based on assessed property values, and include parcel taxes collected on behalf of the regional district, public schools and library system.
The city says tax notices should arrive in mailboxes by the end of May and are due July 2.