Thursday, March 11, 2010

Nanaimo Home Taxes To Increase 3.2% This Year

Bestwick and Sherry
Only Two Looking For More Cuts

City Council officially adopted the draft budget, which is not final until May with a tax increase to home owners of 3.2%.

If your home is worth $350,000 this means another $56 per year in taxes, and you will also be seeing a further $21 hike for garbage and water.

There seems to be no real heart on this council to actually hold the line on tax increases.

The fact Nanaimo is quickly loosing it's industrial base with the decline in the forest industry is a future source of increased residential taxes. If someone does not get serious about continuing to tax and spend, Nanaimo will hit the tax 'wall' in a very few years.


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