Typical Way City Hall Presents Tax Increase
If you just read the headlines it sounds as if your taxes only went up by 6.8%, notice how the Asset Management Reserve sounds like it isn't a tax?REALITY OF YOUR TOTAL PROPERTY TAX BILL
The following chart shows the actual tax bill for a Nanaimo residence from 2021 to 2025 covering all the taxes included on the property tax bill. During this period the actual tax increase per year was 11%.| Category | 2021 | 2025 | $ Increase | % Increase | Avg $/yr (÷4) | Annualized %/yr |
|---|---|---|---|---|---|---|
| School | $511.45 | $672.51 | +$161.06 | 31.5% | +$40.27 | 7.1%/yr |
| RDN Gen. | $168.07 | $256.86 | +$88.79 | 52.8% | +$22.20 | 11.2%/yr |
| Reg Parks | $12.20 | $37.82 | +$25.62 | 210.0% | +$6.41 | 32.7%/yr |
| RDN Sewer | $115.71 | $168.70 | +$52.99 | 45.8% | +$13.25 | 9.9%/yr |
| Hospital | $67.69 | $271.49 | +$203.80 | 301.1% | +$50.95 | 41.5%/yr |
| City | $1,345.69 | $1,967.14 | +$621.45 | 46.2% | +$155.36 | 10.0%/yr |
| Library | $56.36 | $82.86 | +$26.50 | 47.0% | +$6.62 | 10.1%/yr |
| TOTAL (these lines) | $2,277.17 | $3,457.38 | +$1,180.21 | 51.8% | +$295.05 | 11.0%/yr |
Annualized %/yr = the compounded yearly rate that takes the line item from 2021 to 2025 (4 year-to-year steps).
The headline may read "Councilors Try To Nudge Down Tax Hike" but in the end taxes will keep rising by leaps and bounds.
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