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.
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