Town of Qualicum Beach property owners could face a 7.7 per cent increase in property taxes in 2024.
Qualicum Beach council gave first reading to the town’s preliminary draft five-year financial plan, presented by director of financial services, Raj Hayre, at council’s regular meeting on Feb. 7.
This year, homeowners with properties assessed at $956,000 would pay $164 more, for total of $2,302, compared to 2023’s amount of $2,138. That equates to $14 per month.
Residents would also pay an additional $30 increase for water, sewer and solid waste services this year. The total combined property taxes and utilities increases is $194, reflecting a 6.1 per cent tax hike for an average home assessed at $956K.
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Council will get another chance to review the budget on Feb. 28 and consider giving it second and third reading. The final draft will be adopted on March 13 and will be submitted to Municipal Affairs on May 15.