Qualicum Beach’s property tax rates will be going up 3.5 per cent.
The property tax rate bylaw was introduced and council approved first reading Monday during a special council meeting.
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 agenda document reads.
He said for second reading of the bylaw, staff plans to come forward with the analysis of the total tax impact from last year compared to this year. The tax rate, Marsh said, will also be compared to similar communities in the area.
The property tax rates bylaw is on the Monday, April 16 agenda for second and third reading.