The graph provided by the City of Parksville in a release issued on May 4, depicting a balanced financial budget for 2021. (submitted photo)

City of Parksville announces a balanced budget for 2021

Penalty date for property tax payments extended from July 2 to Oct. 1

The City of Parksville has a balanced financial budget for 2021 and extended the penalty date for property tax payments.

On Monday, May 3, council formally adopted the 2021-2025 financial plan bylaw and voted to extend the property tax penalty for late payments from July 2 to Oct. 1. A release issued on May 4 by the city’s manager of communications Deb Tardiff said the decision to do so was to support Parksville taxpayers who may have been financially impacted by COVID-19.

The city still encourages property owners able to meet the annual July 2 tax payment due date to still do so. This will help to keep city programs, projects and services in place and to meet the city’s mandated Aug. 1 obligation to the Regional District of Nanaimo (RDN). Council set the overall 2021 property tax increase at 3.5 per cent for all classes, except Class 5 light industry, set at 10.8 per cent to bring its rate in line with the business property class rate.

READ MORE: Parksville announces dates for 2021 open budget deliberation meetings

Of the 3.5 per cent increase for this year, council directed that .5 per cent will be set into a capital reserve for future capital replacements.

The property tax due date of July 2, 2021, will remain with adjusted penalties; no penalties will be applied to payments and/or homeowner grants claimed by end of business on Sept. 30, 2021; a 10 per cent penalty will be applied to any current year property taxes owing after Sept. 30, 2021; and penalties will also be applied to any unclaimed homeowner grants.

The property tax rate increase will increase the municipal portion by approximately $56 from 2020 for the average priced residential property.

For the average residential property, the RDN wastewater charge will increase by approximately $3, and the Regional Hospital District tax will increase by $26 (34 per cent).

The RDN’s taxes will decrease by $11 and the school tax will decrease by approximately $8.

– NEWS Staff, submitted

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