PARKSVILLE — This year’s property tax increase in Parksville has been set at four per cent.
The 2018 budget was solidified by City Council on May 7, which means property taxes will rise about $56 for the average property valued at just over $400,000, according to the City.
The City noted the 2018-2022 financial plan projected annual tax increases of four per cent throughout the duration.
Highlights of this year’s $56 million City of Parksville budget included a new water intake and treatment facility, upgrades to Corfield St., a trail to Rathtrevor Beach Provincial Park and a new ladder truck for the fire department.
This year’s light industrial tax rate will jump by 11.5 per cent for closer alignment with other business property tax rates, the City noted.
Cost pressures on the City of Parksville include higher service expectations, homelessness issues and legislative impacts from senior levels of government.