Property taxes are always an interesting conversation. Here in Nanaimo, Vancouver Island the average residential assessment in the City of Nanaimo is estimated o be a decrease of 1.79%. Please note: the property tax estimator uses a 3.9% increase for residential Municipal taxes. The tax increase for other agencies is estimated at 1.2% and Regional Functions estimated at 6% for 2012. Please note that this rate will be updated as information is received. A final rate will not be known until May 15th, 2012.
Below is an example of a family home in Nanaimo using the Property Taxe Estimator
Enter the assessed value of your property:
(Residential Class 1 properties within the City of Nanaimo only please)
Assessed Value – 2011:
Assessed Value – 2012:
Property Tax Estimator
PROPERTY TAX ESTIMATE RESULTS
Your entered assessed value from 2011: $312,400.00
Your entered assessed value from 2012: $294,000.00
Your calculated assessment increase/decrease 2011-2012: ($18,400.00)
Assessment change (+/-) is: -5.89 %
Your 2011 taxes were: $2,608.20
Your ESTIMATED 2012 gross taxes will be: $2,566.27
Increase/decrease of taxes from 2011-2012 is: ($41.93)
Your estimated gross tax change (+/-) is: -1.61 %
Please Note: This estimate does not include any levies for Local improvements, Specified Area Charges, Parcel Taxes nor any reduction for your Northern and Rural Homeowner Grant if you are eligible.
The Northern and Rural Homeowner Grant, if eligible, may reduce your gross taxes by up to $770.00 (basic grant) or $1,045.00 (additional grant). The additional grant is applicable to persons 65 years of age and older, or in receipt of war veterans or disability allowances or persons with disabilities under the regulations.
The estimate DOES include the rate for the Sewer Benefitting Area. If you are not in the Sewer Benefitting Area your 2011 taxes and 2012 estimate would be lower.
This is an estimate only and valid for residential properties within the City of Nanaimo.