The ratepayers in the Regional District of Nanaimo will be relieved to see their taxes will not be as high as earlier anticipated.
The updated budget, presented by director of finance Jeannie Bradburne at the RDN’s committee of the whole meeting on Feb. 9, reflects minor adjustments that have reduced estimated rate hikes reported in the preliminary budget the board approved in December.
Bradburne said the smaller tax hikes were due to the COVID-19 pandemic, which forced the RDN to close some of facilities and services for much of 2020.
In District 69, the Northern Community Sportsfield Budget was updated based on information provided by the City of Parksville and Town of Qualicum Beach, resulting in the 2021 tax requisition dropping from $350,521 to $315,833.
In Parksville, the total tax increase for an average home valued at $503,309 will be $17 ,while in Qualicum Beach it will be $54, based on an average home that cost $637,399.
In other jurisdictions in District 69, Area E will see a tax increase of $48 for an average home worth $824,976. In Area F it will be $25 for a home valued at $473,181; Area G tax will go up by $23 on a home that costs $657,246; and in Area H, for a home valued at $591,053, the tax hike will be $32.
“I have never seen so many thumbs up and smiles,” said chair Tyler Brown, after Bradburne gave her report.
The committee endorsed the financial plan for 2021-2025 Bylaw No. 1823, 2021 to introduced and read three times as well as its adoption.