HomeNewsIsland & CoastProvisional budget approves eight per cent tax increase 

Provisional budget approves eight per cent tax increase 

The City of Nanaimo says they have passed three readings of the 2024-2028 provisional budget, and it illustrates an eight per cent tax increase for residents. 

The provisional budget was passed during their meeting on Dec. 18, and the city says it was based on the road map council established through their strategic framework with six key focus areas. 

The key areas include; implementing city plan action plans and key management plans, addressing social, health and public safety challenges, maintaining and growing current services, capital projects, communicating with the community, governance, and corporate excellence. 

According to the city, the 2024 provisional budget says residents will have an increase on their property taxes of eight per cent or equivalent to $213 for a household with an assessed value of $808,873, water fee increases of six per cent or equal to $28, sewer fee increases of four per cent or the equivalent of $6 and solid waste user fee increases of seven per cent.  

Mayor Leonard Krog says the budget shows the city’s commitment to bolstering key services ensuring residents have everything they need. 

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“The proposed increases in property taxes and user fees aim to maintain and improve essential services that make a sustainable and vibrant community for the citizens of Nanaimo,” he says. 

With all the increases the city says residents can expect to see an annual increase of $254, or $21 a month, in taxes and fees for a typical household.  

In a media release, the city indicated the budget will be finalized in the new year, and only reflects the municipal portion and they also collect taxes from the school board, hospital, RDN and library.  

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