Parksville City Council has concluded its five-year financial plan meetings.
Each year, the city creates a five-year financial plan which outlines how resources will be allocated to achieve strategic goals identified by council. Rates for property tax and water and sewer services are set during this process, according to a media release by the city.
“City staff works extremely hard to provide our residents and businesses with good value for property taxes. I’m proud of staff’s ability, despite inflation and rising costs, to achieve this level of tax rate,” said Mayor Ed Mayne.
Council sought input from the community by hosting three public meetings in March and inviting feedback through an online survey and correspondence.
At the third meeting on March 30, council passed the following motions:
THAT staff be directed to prepare the Five-Year Financial Plan and Tax Rate Bylaws maintaining the 3 per cent increase in property taxes plus a 0.5 per cent increase for contribution the capital reserve fund, and including the spending packages outlined in Attachment No. 1, dated March 30, 2022, and presented to Council.
THAT staff be directed to prepare the Five-Year Water Fund Financial Plan Bylaw and Water Utility Rates Bylaws with a 3 per cent increase and including the water related spending packages outlined in Attachment No. 1, dated March 30, 2022, and presented to Council.
THAT staff be directed to prepare the Five-Year Sewer Fund Financial Plan Bylaw and Sewer Utility Rates Bylaws with a 3 per cent increase and including the sewer related spending packages outlined in Attachment No. 1, dated March 30, 2022, and presented to Council.
The 2022-2026 financial plan and tax rate bylaws will be considered by council during its April 20 meeting. Property tax notices will be mailed to residents and businesses in May.
Residents can view the city’s financial plans and the spending packages on Let’s Talk Parksville, the city’s public engagement website.
