Water Cooler: Property taxes versus assessed value, Fifth St. affordable housing & Hwy. 1 protest
NANAIMO — The Water Cooler is NanaimoNewsNOW’s letters to the editor-style segment, featuring conversations about the news in Nanaimo and Oceanside.
This week’s feature discusses a spike in assessed value for residential properties, a new affordable housing pitch for Harewood and recent Hwy. 1 protests about old growth logging.
Joe D., Nanaimo: I had a rise of 16% last year and the city collected an approximately 18% rise in dollars which I had to pay. This year my property rose 34%. Average for Nanaimo is 31%. I worry that I may have to pay at least a 34% in dollars to the city. Calculated at the 2021 mil rate of 7.17. The city should lower the mil rate by 34% also. your Thaghts.
NanaimoNewsNOW: The sticker shock which came from the 2022 BC Assessments early in the new year was widespread. Those who looked online after Jan. 1 saw an average 34 per cent increase in Nanaimo with similar (and sometimes worse) outcomes in other Island communities.