Nanaimo’s preliminary budget for next year proposes a property tax lift of 6.2 per cent.
When increases in user fees are added in, the typical home assessed at $718,471 would experience an increase of $183 per year for a total of $3,464 in property taxes, the city said in its budget documents.
That scenario would see a general property tax increase of 5.2 per cent and another one per cent increase for the city’s general asset management reserve. That would add $152.
Draft user-fee increases would add $23 for sanitary sewer, $6 for water, and $2 for sanitation.
These numbers represent the municipal portion of taxes only and do not include taxes levied by other agencies: School District 68, the Vancouver Island Regional Library, the Regional District of Nanaimo, Island Health, the Municipal Financial Authority and B.C. Assessment.
Nanaimo’s draft annual operating budget is at $181.4 million.
The largest chunks of the draft budget would go to the RCMP at $32.4 million, parks recreation and culture at $28.7 million, engineering and public works at $28.2 million, corporate services at $24.3 million and fire rescue at $21.7 million.
Nanaimo is projecting it will receive $234.7 million in revenues next year. Property taxes are predicted to bring in 60 per cent of that amount, followed by water revenues at 11 per cent, fees and charges at five per cent and government grants at just over four per cent.
Every year, the city adopts a five-year plan, which includes the coming year. The plan and the property tax bylaw must be adopted by May 15.
The draft financial plan was introduced to Nanaimo council this week.
Public budget sessions will be held at the Vancouver Island Conference Centre. On Nov. 24 and Nov. 30, sessions start at 9 a.m. A Dec. 1 session begins at 2 p.m. A Dec. 2 meeting is at 9 a.m. Dec. 5, an E-town hall is planned at 7 p.m. for one hour. If required, another public meeting will be held Dec. 7 at 9 a.m.
Go to nanaimo.ca/goto/budget for details.
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