By NanaimoNewsNOW Staff

City eyeing 2.6 per cent property tax increase next year

Nov 24, 2017 | 12:01 PM

NANAIMO — Budget discussions are about to begin with Nanaimo council, starting with a proposed property tax increase of 2.6 per cent.

Chief financial officer Victor Mema told a crowd of media and engaged citizens on Friday the hike is necessary because the tax base has not grown enough to cover the increase in the budget.

“$2.6 million is what we need to find,” he said. “One per cent of our property tax revenue is equivalent to $1 million. So, if we’re going to try to find $2.6 million, that equates to 2.6 per cent.”

Including both the tax increase and higher user rates for water, sewer and garbage, the typical household can expect to pay an extra $258 in 2018.

Responding to a citizen’s question, Mema said rates aren’t expected to stay so high.

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“The projection of those user fees over ten years, we expect this year it’ll go this high and then taper off to just over $100 in the period of 10 years.”

Major projects in the proposed budget include pieces of the Waterfront Walkway expansion and replacing Nanaimo’s main fire hall.

The rise in property taxes in the 2018 budget, if it stays at 2.6 per cent, will be the largest increase passed by the current Council.

This is a draft tax increase which will be brought to City Council on Monday, Nov. 27, kicking off weeks of discussion. Depending on what Council decides, the number could rise or fall either slightly or significantly.

Chief administrative officer Tracy Samra said she expected the public will talk about sidewalks, increasing park trails in the City and affordable housing during discussions about the budget.

There will be a full presentation to council on Monday, followed by an eTown Hall for the public on Dec. 4 and a workshop on Dec. 7. The tax increase is expected to be approved when Council meets on Dec. 18.

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