Parksville property tax rates will see an increase of 3.5 per cent for 2021.
Director of finance, Lucky Butterworth, presented to Parksville city council his report entitled ‘2021 municipal property tax rates’ at the latest council meeting on Monday, April 19.
Butterworth cited that section 197 of the community charter requires council to establish property tax rates for its own purposes and to meet the tax requirements of the regional district.
The 2021-2025 final financial plan for the City of Parksville included the 3.5 per cent tax increase for all properties other than class five (light industry).
“The financial plan included a flat 3.5 per cent property tax increase for all classes, except class five. The class five light industry increase is 10.8 per cent, and this is part of a multi-year strategy to equalize the class five tax rate to the class six business rate,” he said.
Butterworth’s report read that in 2017, the then-council determined the light industry property tax rate should be the same rate that the city’s business class (class six) pays.
His report continued to read that the property tax rate increase will increase the municipal portion of the property taxes by approximately $56 from 2020 for the average-priced residential property.
The total increase, including the regional district taxes, is approximately $84.
According to Butterworth, school taxes are not yet known at this time.
Before the vote was taken, Coun. Teresa Patterson said she wanted to thank staff and Butterworth.
“I know that it’s challenging, and I hope that our residents appreciate the amount of work and everything it takes to keep rates at an amount that can be justified,” she said.
The motion to follow Butterworth’s recommendations, as outlined in his report, was passed.