A series of upcoming meetings will go a long way in determining what next year's City of Nanaimo budget looks like (file photo/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

budget time

City of Nanaimo budget process starts, projected 2023 property tax increase tops 6%

Nov 23, 2022 | 5:34 AM

NANAIMO — A series of budget-focused meetings launching on Wednesday, Nov. 23 will shape what next year’s budget at Nanaimo City Hall will look like.

The City’s draft financial plan estimates a typical homeowner in Nanaimo with a property valued at about $718,000 will absorb a tax bill of $3,464, or $183 more next year.

While the projected property tax increase is 6.2 per cent, the increase at this point is pegged to be 5.6 per cent for property taxes and user fees combined.

The increase includes an annual one per cent asset management reserve top-up, and follows a six per cent property tax hike in last year’s City of Nanaimo budget.

Budget discussions represent a starting point, meaning tax rates and funding various line items could shift if priorities by councillors are adjusted.

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Draft budget discussions will be discussed during four finance and audit committee meetings, starting on Wednesday Nov. 23 and Thursday, Nov. 24., with both meetings starting at 9 a.m.

Two additional finance and audit committee meetings takes place on Nov. 30 and Dec. 1.

A one hour long eTown Hall meeting on Dec. 5 starting at 7 p.m. allows for public participation through a variety of means.

All of the budget committee meetings and the eTown Hall will be held at the Vancouver Island Conference Centre’s Shaw Auditorium and will be streamed online for live or archived viewing.

Public safety represents the largest expense of Nanaimo’s annual budget, particularly in 2023.

Last year City council committed to spending about $2.5 million annually on its Downtown Nanaimo Safety Action Plan, featuring a dozen new community safety officers which began working late last summer.

Three new RCMP officers are budgeted for next year, while 2023 represents the first full year of funding a four-member RCMP bike patrol unit.

Local governments are legally obligated to pass their annual budgets by May 15.

The budget process marks an immediate run of heavy lifting for the newly elected Nanaimo City Council, which includes three new members among the nine member team.

The City of Nanaimo’s 2023 to 2027 draft financial plan, along with departmental business plans, can be viewed here.

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