Nanaimo city council is moving ahead with its 2026-30 financial plan, which includes a projected property tax increase of 6.3 per cent in 2026.
The city said the increase would add nearly $200 in additional property taxes for the average home in 2026.
Under the plan, property taxes are projected to rise 5.9 per cent in 2027, 2.9 per cent in 2028, 2.8 per cent in 2029 and 2.3 per cent in 2030.
Council gave the budget three readings at its Dec. 15 meeting.
A series of meetings in November and December helped shape the budget, with residents invited to provide input.
A staff report prepared for council said the financial plan supports five major goals: being green, connected, healthy, empowered and prosperous.
The plan reflects motions from the finance and audit committee in November, including a $5.5-million increase for Loudon Park improvements to fund an amenity building and an additional $1.3 million for future park improvements.
The committee also approved changes to the city’s Pedestrian Unallocated Program, renaming it the Active Transportation Unallocated Program and increasing funding to $600,000 annually for five years.
The E&N Trail lighting project was removed from the budget, with $1.1 million redirected to the Active Transportation Unallocated Program.
The Luminous Paths festival will become a biennial event, with a starting budget of $86,000.
The financial plan has not yet been formally adopted. Council is expected to review and amend it in April before final approval. A staff report noted that giving the plan three readings now allows the city to proceed with work on programs and projects planned for 2026.
