Thursday, February 21, 2013

Nanaimo Bulletin Doesn't Understand Taxes Either!

 Little Wonder Bulletin Readers 
Don't Know What Is Going On In Nanaimo

Under the heading 'Council adopts 2013 - 2017 financial plan' a staff writer for the Nanaimo Bulletin makes the following comment:

"Council adopted the 2013-2017 financial plan Monday, which includes the city's $175-million 2013 budget.
Almost $90 million of that will come from Nanaimo property owners."

It is little wonder Nanaimo taxpayers have no idea what's going on with their taxes when this is the kind of 'reporting' the local shopper presents as fact.


The total financial plan for 2013 - 2017 is over $851,000,000.00 in total which is what council has adopted. The $175,000,000.00 is for the year 2013 only.

In addition to $90,000,000.00 coming from property taxes (as stated in the Bulletin) there is $35,000,000.00 coming from fees and charges (also paid by taxpayers, the water in your tap and garbage pick up are paid from fees, so is your sewer), there is another $20,000,000.00 which comes from borrowing, which of course has to be paid back.

Those three items total up to $145,000,000.00 all of which will come from Nanaimo property owners. In addition there is 'other income' which I presume does not come from the good tax-fairy living in the woods.


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