NANAIMO — City councillors have approved the 2025-2029 financial plan, featuring a 7.8 per cent property tax bump this year.
A typical single-family home in Nanaimo is expected to see a property tax bill of a little over $3,000 this year, with a further $1,000 for user rates (water/sewer/curbside collection).
Nanaimo’s budget was approved during a Monday, May 12 special council meeting, while tax notices are scheduled to be mailed out in late May and due for payment by Wednesday, July 2.
This year’s budget includes over 35 new positions, including 20 new firefighters, four RCMP officers and six Community Safety Officers.
Key projects in this year’s budget include: ongoing Commercial Street rehabilitation work, new washrooms at Maffeo Sutton Park, and utility and roadway upgrades to Third St. between Howard Ave. and Selby St.
Next year’s budget anticipates a 7.7 per cent property tax hike, followed by three years of reduced increases to round out the five-year financial plan.
The City had originally mulled an 8.7 per cent property tax increase for this year.
All other regional municipal governments have adopted their respective budgets.
A 5.5 per cent property tax increase applies to Parksville residents, while the Qualicum Beach property tax hike is 6.6 per cent.
Lantzville’s property tax jump is 3 per cent, while Ladysmith’s rate of increase was set at 3.75 per cent.
The Regional District of Nanaimo’s seven electoral areas face varied tax increases based on local service levels, with the average rural area property tax bill being $998.
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