Qualicum Beach’s property tax rates are expected to go up 3.5 per cent.
The property tax rate bylaw was introduced and council approved first reading April 9 during a special council meeting. Second and third reading were approved at the regular council meeting Monday.
Finance director John Marsh said the property tax information and rates are based on the town’s 2018 financial plan.
“The total town share was projected to be 3.5 per cent increase,” said Marsh, adding that 2.5 per cent is for inflation/service changes and one per cent is for pavement infrastructure.
But, Marsh said, the town has not yet received the provincial government’s tax rates for school taxes.
“Therefore actual overall tax increases cannot be determined at this time, although the estimate is 3.5 per cent,” the April 9 agenda document reads.
In the document, Marsh compared the town’s taxes to surrounding communities’ (Parksville, Ladysmith, Comox and Courtenay) residential and commercial taxes. However, Marsh said, the surrounding areas’ taxes are based on the 2017 numbers because the 2018 numbers wouldn’t be available until mid-May which would be too late.
Marsh said Qualicum Beach’s 2017 residential tax rates were less than three of the municipalities except for Comox. The town’s 2017 commercial tax rates were also less than the four other municipalities.