Nanaimo City Councillors are looking at a potential 8.** per cent increase in property taxes as their budget deliberations get underway. (File photo/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

tax time

Budget discussions well underway as Council’s mull property tax increases

Nov 27, 2024 | 5:30 AM

NANAIMO — Discussions at Council tables across the mid-Island are underway, to decide how to pay for projects and services over the next five years.

Property tax rate increases, which form the majority of municipal funding, have either started, or will be mulled over the coming months ahead of mandatory adoption by mid-May.

Nanaimo’s discussions are poised to begin Wednesday, Nov. 27 with Councillors looking at a potential 8.7 per cent increase for 2025 to properly finance the current level of services as well as planned projects.

The figure includes one per cent for asset management as well as municipal user fees for water, sewer and sanitation and would see the typical home in Nanaimo, valued at $783,808, pay an extra $293 next year for a total of $4,037.

Taxes rose 7.7 per cent in 2024, 7.2 per cent in 2023 and six per cent in 2022.

tax time

Budget discussions well underway as Council's mull property tax increases

3h ago

Award booked

'Customer service is number one:' Parksville hotel manager wins hospitality honour

17h ago

price surge

Fall storms cause gas price surge across B.C., including Nanaimo

18h ago

Nanaimo’s rate in 2024 was on par with property taxes paid in Kamloops.

The city was slightly more expensive than Parksville and Chilliwack, while slightly cheaper than Maple Ridge.

More details on the tax implications are available through the City’s draft 2025-2029 financial plan.

The City will host an eTown Hall on Dec. 2, before further meetings in early December.

Parksville
The City’s preliminary financial plan is forecasting a 7 per cent property tax increase, which is projected to come back to council for review in April, which could be amended at that time.

The first three readings of the 2025-2029 financial plan bylaw will come before Council on Dec. 16.

Qualicum Beach
Town councillors will also open their budget discussions Wednesday, eyeing a 9.6 per cent property tax increase.

The figure includes 6.6 per cent for municipal operations and services, 1.5 per cent for police services and a further 1.5 per cent for asset management.

An average home in the Town of Qualicum Beach, valued at $995,000 would see a $252 increase in property taxes for 2025, including utility costs.

Lantzville
Residents in the District are potentially looking at no property tax increase again this year.

For the third straight year, District staff are offering up a zero per cent increase for their base budget, citing the fact their expenses are on par with 2024 and a reduction in grant revenues has been offset by increased income from interest.

Council decisions could change the rate, with a handful of scenarios on the table ranging from zero per cent increase to a five per cent bump. User rate fees would increase at varying amounts, depending on the decided tax increase.

Regional District of Nanaimo Residents of Nanaimo, Lantzville, Parksville and Qualicum Beach also contribute taxation to regional functions, including sewar, transit, Nanaimo Regional Hospital District initiatives and Vancouver Island Regional Library.

Residents of seven rural electoral areas within the RDN between Cedar and Deep Bay have separate taxation rates based on localized service levels.

The proposed 2025 RDN property taxation amounts are demonstrated in the financial plan listed below.

The RDN’s proposed 2025 tax rates (RDN)

Local news. Delivered. Free. Subscribe to our daily news wrap and get our top local stories delivered to your email inbox every evening

info@nanaimonewsnow.com

On Twitter: @NanaimoNewsNOW