City councillors in Nanaimo and Parksville are moving through the first formal stages of cementing the property tax increase for next year. (File photo/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

tax time

Property tax increases refined as Nanaimo & Parksville Council’s move toward adoption

Dec 17, 2024 | 4:12 PM

NANAIMO — Projected property tax increases are being dialled in as Council’s in both Nanaimo and Parksville move through the required steps.

Following weeks of meetings and presentations, City of Nanaimo councillors have whittled down a projected 8.7 per cent increase to a flat eight per cent jump for 2025, or a $272 increase for the average Nanaimo property valued at $783,800.

The figure includes one per cent for asset management, while utility costs such as sewer, water and sanitation are billed separately — it’s also a figure which could still change.

“Over the coming months, the finance staff will work on updating the financial plan with changes to estimates and any additional direction we receive from Council,” City general manager of corporate services Laura Mercer told Councillors on Monday, Dec. 16.

Included in the budget for 2025 and planning beyond are 20 new firefighters, support for affordable housing initiatives, money set aside from multimodal infrastructure and road rehabilitation, as well as climate, arts and culture, and support for regional marketing initiatives.

tax time

Property tax increases refined as Nanaimo & Parksville Council's move toward adoption

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Additional supports for the City’s community safety officer program were also approved.

Coun. Tyler Brown was the only councillor who voted against the financial plan bylaw, suggesting the document has strayed away from his values and priorities.

“I think there’s a lot of really good things in it, but just going through it on the weekend and values I campaigned on and would like to see more of, I think budgets have been slowly drifting from those with respect to the types of projects and emphasis.”

Further adjustment is possible in the spring as updated property value data from BC Assessment will be available, which ties directly to taxation.

Council also opted to defer a few decision points in their budget discussions which, if added, could change the financial ask from taxpayers.

Oceanside municipalities
Parksville councillors also moved through the first three readings of their updated financial plan bylaws on Monday.

The plan includes a seven per cent increase in property tax rates for 2025, adding $171 to the average taxpayer in the City.

Utility and solid waste fees are included on top of that, for an extra $44 per property on average.

Also included in the seven per cent increase is 1.2 per cent tied directly to asset renewal reserves.

Town councillors in Qualicum Beach saw a draft financial plan presented on Dec. 11, which outlined a potential eight per cent increase in property taxes and utility costs

The figure represents a $252 increase in taxation for the average home valued just under $1 million.

Voters in the Regional District are looking at a potential 9.2 per cent hike in property taxes, a decrease from the nearly 16 per cent originally tabled.

Updated financial plans, which cover a five-year span, must be fully adopted by municipal governments by May 15 every year.

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