Monday, December 10, 2012

Nanaimo Residential Taxes & Fees Up 4% In 2013

Nanaimo 2013 Taxes & User Fees Up 4%

Finance Director Mr. Clemens gave council and Nanaimo the first look at his financial plans for Nanaimo going forward. As could be expected taxes are once again increasing to meet the constantly increasing spending policies adopted by council and the city manager.

The residential tax increase is 3.3% and when combined with user fee increases the combined increase to a Nanaimo resident is a 4% increase, which does not include any school, hospital, library or regional district tax increases which may also be coming.

$350,000.00 House Will Pay $96.82 More Next Year

With the increases proposed for residential tax increases plus the increases for water, sewer and garbage a person living in a $350,000.00 home can expect to pay another $96.82 per year, plus any increases that may be assessed by the school district or the hospital.

Industrial Taxes Decrease 16.4%

In the final year of shifting the tax burden from the industrial tax base to the residential tax base (that is you and me brother) industrial taxes will be reducing this year by a further 16.4% which was a policy council and staff implemented  in an attempt to make Nanaimo attractive to industry. As of this report there is no data to measure whether this tax shift has had a positive impact on the industrial tax base in the city.


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