Residential Taxes To Increase 20% By 2015
At the FPCW meeting at city hall, Mr. Clemens presented the financial plan for the period 2011 - 2015. During that period, residential taxes will increase by at least 20% and water rates will increase by 25% during the same period.
The average Nanaimo residence valued at $350,000 would see their total taxes, water rates and garbage and recycling bill increase by $90.73 next year. This does not include school district, regional district or hospital tax increases.
A couple of sizable expenses next year include nearly $2,000,000 to replace water, sewer and storm sewer in the Cilaire subdivision. Another $137,000 is ear marked for the VICC.
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