12.8% tax increases for Nanaimo

On Monday, January 19th the new Nanaimo Council will receive the Draft 2015 – 2019 Financial Plan.

If this budget is adopted it will mean 3.9% increase in taxes for 2015.

The proposed five year financial plan will increase Nanaimo property taxes by 12.8%.  This amount will be more because it doesn’t include the taxes for water, sewer, garbage, RDN, schools and local hospital.

City of Nanaimo tax increases 2015-2019


In 2015 Nanaimo residents will pay 14.5% more for the following core services:

  • Water rates 7.5%
  • Sewer 5%
  • Garbage 2%

What is causing the tax increases? Staffing is the largest cost including wage and benefit increases for:

  • City of Nanaimo
  • Vancouver Island Regional Library
  • RCMP (3 additional members)
  • Fire Station staff (4 additonal staff in 2016)
  • (The City of Nanaimo eliminated 3 management positions savings $359,000) *price of settlements not included

Other reasons for tax increases are because of asset management, debt repayment and inflation.

For a single family home assessed at $350,000 that would mean an increase of $60.84 in taxes. This increase doesn’t include schools, hospital and RDN.

Also, don’t forget the other rate hikes for 2015 such as:

  • BC Ferries 3.9%
  • BC Hydro 6%
  • ICBC 5%
  • MSP 4%
  • CPP 1.8%
  • EI 1.2%

That would bring the total tax increases to approximately 50% for 2015.