The City of Nanaimo is getting ready to send out this year’s tax notices with a six-per cent increase to property taxes.
At a special council meeting Monday, May 9, councillors voted 8-1 to adopt bylaws to amend the 2022-26 financial plan and set property tax rates for 2022.
The six-per cent increase represents a five-per cent general property tax increase and one-per cent annual increase for general asset management. Council recently voted to up the property tax increase by 0.9 per cent when it approved spending on a $2.5-million-per-year downtown safety action plan.
A press release from the city noted that other expenditures in the budget include money for pedestrian amenities, economic development, corporate asset management tracking, energy- and emissions-reduction projects, social initiatives, improvements to recreation facilities and parks, and more.
“As a council, we want to ensure Nanaimo is a healthy, connected and resilient community,” said Mayor Leonard Krog in the release. “This budget includes investments in public safety, Nanaimo’s economy and our fight against climate change. The community has been loud and clear; these timely investments are needed now.”
The release noted that council sets the tax rates after reviewing departmental business plans and project plans, “balancing the community’s interest in maintaining existing levels of services while planning for significant infrastructure needs.”
At this week’s special council meeting, Coun. Jim Turley voted against the financial plan amendment and tax rates bylaws, indicating that he had opposed a number of expenditures during budget debate and remained opposed.
The city says the property tax increase will amount to an additional $139 this year for a typical household. Tax notices will be sent out this month. Residents are reminded that the city is also tasked with collecting fees and taxes on behalf of Regional District of Nanaimo, Vancouver Island Regional Library, Nanaimo Ladysmith Public Schools and B.C. Assessment.