Financial Plan Revealed At FPCOW
Average Home To Pay $94.24 More
In the first public airing of the 2012 - 2016 financial plan the city staff report indicates an impact of $94.24 on a typical single family dwelling in Nanaimo.
The impact of $94.24 is based on a home with an assessed value of $350,000 and does not make any provision for tax increases for schools, hospital, RDN etc.
The increase is a combination of another $71.41 in property taxes based on a 4% increase, $15.83 increase for water use and $7.00 for garbage. Of course all of these figures are very hypothetical as they are based on average values and average water consumption etc. but do give some idea of the type of tax increases we can expect next year.
It should be noted this increase of 4% applies only to residential taxes with the 'blended' tax increase being 3% as commercial rates increase by 3% and industrial rates decline by -20%.
Over the next few days watch this page for more detailed information on where and why your tax dollars are planned on being spent in the years to come. There are a couple of troubling details revealed in this draft financial plan. The most troubling is the 'Seismic Screening of City Buildings' being recommended by city manager Al Kenning.
One such 'screening' saw the decision to spend $16 million on a shiny new staff office, instead of spending $4 million upgrading the existing annex.
The most troubling aspect of this 'Seismic Screening' is the likelihood that it will result in huge sums of money being spent based on information that will be hidden from public view by the overused tool of 'in camera' decisions.
Sad how they treat our money like it grows on trees. Lumps of gold to you for keeping everyone informed. Keep up the great work.
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