TAXES WILL STEAL YOUR HOME EQUITY

on

50% TAX INCREASE IN 4 YEARS 
CAN STEAL YOUR HOME OVER TIME

 This is a real-life example of the taxes on a modest 80 year old bungalow in the City of Nanaimo. The taxes include city taxes, 2 different RDN taxes, school taxes, library taxes and hospital tax.

TAXES 2021 = $2310.00

TAXES 2025 = $3475.00

TOTAL INCREASE = $1165.00 

4 YR. INCREASE = 50%

At this rate of increase the taxes on this home will double in less than seven years. In seven years time the tax burden will have risen to $6950.00.

ON TOP OF THIS TAX BILL THERE ARE USER FEES OF $914.00/YR.

THIS BRINGS THE TAXES AND FEES TOTAL TO $4389.00/YR OR $356.00/MO.

IN LESS THAN 7 YEARS AT THE CURRENT RATE OF INCREASE

TAXES WILL INCREASE TO $6950.00 AND FEES TO $1029.00

 FOR A TOTAL OF $7979.00/YR OR $664.00/MO.

HOW DOES ANYONE ON A FIXED INCOME 
SEE THIS AS A SUSTAINABLE?

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