Thursday, May 05, 2011

Nanaimo Residential Tax Increases


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Budgeted Tax Increases For Nanaimo
The above chart graphically shows the effect of the increases city hall has planned for Nanaimo residents over the next five years. In addition to this increase, every year there will be a 5% increase in your water fees which are not reflected in the above increases. Any increase in sewer or garbage rates are not included either. For example in the year 2011, water rates are going up 5% and garbage/recycling is going up 1.8%.

What The Numbers Mean

If in the year 2010 you paid $100 in taxes, with the scheduled increases, including the compounding effect, by the year 2015 you will be paying $121.06 which is a combined increase of over 21% in the five year period. It should be noted, this does not include anything to cover the aging infrastructure deficit which staff and council seem willing to ignore.

Put another way, if your taxes actually were $1,000 in 2010 they would increase to $1210.60 by 2015 and if they were $2,000 they would increase to $2420.12 and if they are $3,000 they will reach a total of $3,630.72 in the year 2015.

These numbers do not reflect any kind of a tax increase the Regional District or the School District or the Hospital will be looking to collect from you either.


All of these projections are based on current levels of municipal spending which may or may not prove to be reliable as time passes. Council could have chosen to hold taxes to a zero percent increase this year, but there seems neither the will nor the creativity to accomplish such a thing.

allvoices

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