Property Taxes To Rise 22.34%
User Fees To Rise 5.16% by 2014
According to the 2010 - 2014 City of Nanaimo Financial Plan city taxes will increase by nearly 22.5% by 2014 and fees will increase by another 5.16% in the same period.
If you consider that residential taxes went up 4.61% from 2009 the combined increase is nearly a 28% increase. This year the average cost increase to taxpayers is about $100 per year, if you consider the same increases are projected through to 2014 you can expect another $500 going to pay property taxes by 2014.
There is a special open finance/policy committee of the whole meeting today at City Hall at 4:00pm in the board room at city hall. The purpose of the special meeting is to discuss the budget.
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