Wednesday, June 03, 2015

Nanaimo Property Tax Notices Mailed - Due Jly 2

NEWS RELEASE
2015 Property Tax Notices have been mailed

Nanaimo residents are encouraged to check their mailboxes and email accounts for their 2015 Property Tax Notices that were sent out last week. This year’s due date is July 2nd.

At its meeting held on Monday, May 4, Council approved the 2015 Tax Rate Bylaw settling on a 1 per cent increase of taxes for the City of Nanaimo. Property Tax Notices will also include levies collected for other agencies such as the Regional District of Nanaimo, Province of BC School Tax, and others.

* Overall residential assessment values in Nanaimo increased an average of 2.8 per cent, and the average home value increased to $331,136 from $325,325.

* The tax increase for 2015, including taxes collected for other agencies, is 1.8 per cent, approximately $55 for an average home.

* Taxes are calculated by multiplying the applicable tax rate for every $1,000 worth of a property’s assessed value. The residential tax rate this year is 9.4744.

* Increases or decreases to the previous year’s property tax amount depend on the change in assessment value relative to the average assessment change of 2.8 per cent.

"It is important to claim your Home Owner Grant, if eligible, and pay your taxes on time to avoid penalties. If you have not received your tax notice by now, please contact our office." - Diane Hiscock Manager, Revenue Services City of Nanaimo

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