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The Relationship Between Property Assessments and Property Taxes
A significant increase in your assessment does not necessarily mean a significant increase in your property taxes.The important factor is how your assessed value changed relative to the average change for your property class.
- If a single family residence in the City of Nanaimo went up average of 10.53% for market change.
- If your property increased in value greater than the market change of 10.53%, you will likely see an increase in your municipal taxes of greater than 5.2%
- If you property increased in value was equal to the market change of 10.53% than you municipal taxes will likely increase at the average for 2019 of 5.2%
- If your property increased in value less than the market change of 10.53% you will likely see an increase in your municipal taxes of less than 5.2%
Request Property Tax Notice
Property tax notices are usually mailed at the end of May. If you did not receive your Property Tax Notice, please contact the Finance Department 250-755-4415 or email@example.com.
If you are registered for MyCity, you can view your property tax notice online. You can also change your billing preference with MyCity to receive your notice by email. Need a MyCity account? Register now.
Property taxes are due regardless of whether you received a property tax notice.
Consequences of unpaid taxes
Taxes unpaid by the due date (the first working day in July) are subject to a 5% penalty, and an additional 5% is levied on the second Thursday in August. Any remaining balance outstanding as of January 1 will accrue interest daily.
If you do not pay your taxes for three consecutive years, your property will be sold at the City’s Annual Tax Sale held on the last Monday of September.
The Province of British Columbia also offers options to defer your property taxes. For more information click Property Tax Deferment