The City of Parksville's 2025 to 2029 financial plan will be considered at the Dec. 16 council meeting with three readings of the financial plan bylaw.
It is expected final approval will be considered at the Jan. 20 council meeting, according to a news release by the city.
Guided by council priorities, the city’s five-year financial planning process includes input from city departments, council briefings and public consultation. The five-year financial plan sets the priority services, programs and initiatives for the next five years and how the city will pay for them.
Property tax rates and utility rates for the city will be set in the spring.
The forecast rate increases for 2025 are seven per cent for property taxes, six per cent for water fees and six per cent for sewer fees, which will result in an increase of about $175 over 2024 for an average residential property.
The increases to property taxes and utility fees include increased investments in current and long-term critical infrastructure renewal to support a sustainable long-term financial plan for the city. Funding to support the activities of Parksville community groups (Parksville Beach Festival Society, Oceanside Community Arts Council and Parksville Curling Club) was added to the financial plan.
Additional investments are included to enhance accessibility to city facilities. The drinking water master plan, Parksville Pathway, completion of the transportation master plan, upgrades to utilities instrumentation and controls and works at the water treatment plant are significant projects in 2025.
Public participation helps to ensure the plan reflects the community’s priorities and assists council to balance individual needs and the needs of a growing community.
Meetings to consider the 2025 the 2029 financial plan were held in October and November and the city received public input through an online survey open from Sept. 18 through Oct. 17.
Financial plan and staff presentations from the Committee of the Whole and council meetings may be viewed online at Let’s Talk Parksville. As well, the meetings are archived and may be viewed on the city's website through livestreaming.
