Thursday, April 24, 2008

Nanaimo Taxes To Increase 3.9%

Tax Increase Reduced by 3.1%

If City Council adopts the financial plan put forward at Mondays committe of the whole meeting, city homeowners will be facing a 3.9% tax increase which is nearly half the increase previously suggested.

Apparently increased income in other areas have allowed city staff to modify their financial plan while still making allowances to cover the costs of three major projects within the city.

Those projects are the Port of Nanaimo Centre, the Oliver Woods Community Centre and the Chase River Firehall.
The April 28 city council meeting will likely be the final consideration of the new budget which must be adopted by May 15.

It is also the intent to keep industrial taxes low in an effort to assist current industry which would include the troubles forest industry.


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