Parksville city council has approved a 2.5 per cent tax increase in 2019 for all properties, with the exception of Light Industry Class 5. The city’s budget was adopted on May 9.
“The financial plan includes a 2.5 per cent property tax increase for all classes except Class 5,” said city director of finance Lucky Butterworth. “The Class 5, which is light industry, increase is 10 per cent and this is part of a six-year strategy to equalize the Class 5 tax rates to the Class 6 business tax rate.”
The municipal portion of the increase, for the average-priced residential property, amounts to a $37 cost.
RELATED: Parksville budget presentations continue with operations, engineering and community planning
The city delivered a balanced budget for the 2019 financial year. The consolidated budget of just over $37.5 million includes capital expenditures of $16.3 million. Major capital in 2019 includes such projects as the new water treatment project, land acquisition, pickleball courts, playground resurfacing, Pym and Forsyth refurbishment, Moss Avenue and McKinnon Street upgrade, trail to Rathtrevor Beach Provincial Park, new ladder and rescue trucks for the fire department and other minor road replacements.
Budget deliberation meetings were held in March and April 2019 with public input encouraged in person and through online opportunities.
A city press release said “the budgeting process becomes more challenging each year as the city is faced with external pressures such as increasing expectations, significant housing growth, legislative impacts by senior levels of government, homelessness and rising costs. The 2019 budget balances these challenges while continuing to deliver good value for money and also providing quality services for Parksville citizens.”
When other government tax collections are added in, the total tax increase for the average priced residential property is about 2.44%. For a home with the average assessed property value ($456,225 in 2019), the city portion of total property taxes will increase by about $37 from 2018. The Regional District of Nanaimo, regional wastewater, regional hospital and library taxes will decrease by about $5 and the local school tax will increase by about $37.
“Council made the decision to look at revenues and expenses in significant detail which provided a fresh look at the city’s financial situation. I’m pleased council and staff worked closely as a team resulting in a tax increase of only 2.5% compared to 4% in previous years,” said Mayor Ed Mayne in the release.
The 2019-2023 final financial plan may be viewed on the city’s website. This plan sets out the financial requirements which enable city departments to carry out approved projects in 2019.
NEWS Staff, submitted
