Friday, June 03, 2016

When A 0% Tax Increase Is Not A 0% Increase


The above is taken from information supplied by a long time Nanaimo resident who, like many, when he read headlines about a zero tax increase, thought that meant he would be paying the same as last year.

Well, apparently city taxation is not quite that simple, as the amount you pay is determined by the rates charged by different agencies and the assessed value of your home this year versus last year.

I am told by city hall that if your assessment increased at the 'average' rate of 4.3% your city tax levy will not have increased from last year. However, if your assessment increased by more than 4.3% you will see an increase in the city tax portion of your tax invoice.

Overall I am told that the city will take in no more revenue via taxation this year than they did last year. However, based on assessment, some taxpayers will in fact be paying more, and some will be paying less.

It is a little complicated, and certainly can be disappointing for people who thought a zero percent tax increase actually meant a zero percent tax increase.

While they are not officially called taxes, our water, sewer and garbage 'fees' will be increasing this year, which in my opinion are just taxes by another name.



allvoices

1 comment:

  1. This is all marketing by the Council. You can get no payments for a year at lots of retailers too. Doesn't mean it's any cheaper in the long run. Expenditures at the City continue to increase unabated. If the Core Review recommendations are not approved (expected) then stand by for more tax increases. This is all Theater

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