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Parksville council adopts 2024 to 2028 financial plan

Due date for property taxes is July 2
The Parksville Civic and Technology Centre located at 100 Jensen Ave East. (PQB News file photo)

The 2024-2028 financial plan, tax rates and utility rates bylaws were given final adoption by Council at its May 6 meeting.

The bylaws reflect a 6.6 per cent increase in general municipal property taxes, a five per cent increase in metered water and water parcel tax rates, and a three per cent increase in sanitary sewer usage and parcel tax rates, according to a news release by the City of Parksville. The estimated increase for an average priced home is $171.

Highlights from the 2024 to 2028 financial plan include investments in capital assets and infrastructure renewal in the next five years include: $1.5 million asphalt patching, overlays and crack sealing in 2024; $750,000 for the Drinking Water Master Plan; $100,000 for the Shelly Road Centre playground; $3.675 million per year for roads and drainage infrastructure renewal; $150,000 for replacement of critical emergency communications infrastructure; the $2 million Parksville Pathway project (Parksville Community Park to Englishman River estuary); $500,000 utilities instrumentation and controls renewal; and $825,000 per year water and sanitary sewer infrastructure renewal.

Reserve funds established by council contain funds which have been set aside for specific purposes as directed by a requirement of provincial or federal legislation, or by a decision of council.

Maintaining adequate reserves and surplus play a significant role in achieving a level of financial stability for Parksville taxpayers.

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Such reserves include long-term capital infrastructure renewal and replacement, current capital funding (roads/asphalt overlay, storm drainage, water and sewer) and protective services operating and capital (fire and police).

Property tax notices will be mailed at the end of May and the due date for property taxes is Tuesday, July 2, 2024, with penalties as follows:

• Regardless of payment method, payment must be received at the City of Parksville by the due date of Tuesday, July 2, 2024, or be subject to an immediate five per cent penalty;

• An additional five per cent penalty will be applied to current year property taxes outstanding at the end of business on Sept. 16;

• Penalties are also applied to any unclaimed homeowner grants.

Meetings to consider the 2024-2028 financial plan began in late 2023 with committee of the whole and council meetings held into April.

The city’s financial plan and staff presentations from the meetings may be viewed on Let’s Talk Parksville. As well, the meetings are archived and may be viewed on the city’s website through live streaming.

— NEWS Staff