Parksville delivers balanced budget for 2020; property tax increase set at 3%

Parksville delivers balanced budget for 2020; property tax increase set at 3%

Municipal portion of tax increase for average assessed residential property approximately $45

Parksville council passed their 2020 budget, setting the overall tax increase for 2020 at three per cent.

Excluded from the increase is Class 5 Light Industry, which was set at 10.8 per cent.

The average increase for municipal taxes is approximately $45, with the average assessed residential property at $468,500. The Regional District of Nanaimo taxes will increase by $29.60 (9.1%) for the average home and school tax increase by $36.

A release from the city read:

“For commercial operations, it is expected the school tax will decrease by about 75 per cent which will more than offset any property tax increases of the other jurisdictions.”

READ MORE: Parksville city council looks for public input on 2020 budget

READ MORE: COVID-19: Parksville property taxes due July 2, penalties deferred to Sept. 30

The following projects were listed for 2020: upgrades to Pym Street, Forsyth Avenue, Hirst Avenue and Moss Avenue, a new fire rescue truck, Parksville Community Park performance stage, pickleball courts and other smaller projects.

Council unanimously passed the budget at a May 4 council meeting after a deliberation meeting on April 8. The 2020-2024 financial plan can be viewed here.

— NEWS staff, submitted

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