Property Tax Information
Property taxes are levied each year around mid-May and billed for the calendar year. The money raised from the property taxes are critical to funding local programs and services, such as:
- Police and fire protection
- Emergency rescue services
- Road construction and maintenance
- Recreation and community centres
The tax rates are based on the funds needed to provide services for the year and are set to determine how to share the cost of providing the services.
Property taxes are levied annually in May for the calendar year (January to December), therefore a portion of the taxes are paid in arrears and a portion in advance.
Property tax payments are due on the first business day of July. For ways to pay your property taxes, please visit the Payments page.
Frequently Asked Questions
The Relationship Between Property Assessment and Property Tax
A significant increase in the assessment (property value) does not necessarily mean a significant increase in property tax. The important factor is how the assessed value changed relative to the average change in the property class.
The average increase in assessed value for a single-family residence in 2023 was 12.6% due to market change. The City of Nanaimo budget increase for 2023 was 7.2%.
- If the property increased in value greater than the market change of 12.6%, you will likely see an increase in your municipal taxes of greater than 7.2%
- If the property increased in value equal to the market change of 12.6%, your municipal taxes will likely increase at the average of 7.2%
- If the property increased in value less than the market change of 12.6%, you will likely see a decrease in your municipal taxes of less than 7.2%
BC Assessment provides a great infographic on the relationship between the assessment and the property taxes.
*Please note that the tax increase of 7.2% relates to the City's tax rate only and does not take in consideration the rate change for other organizations the City collects on behalf of.
Property Tax Notice
Property tax notices are mailed at the end of May. If you do not receive your property tax notice by the second week of June:
- Visit MyCity to access a PDF copy online.
- Contact the Finance Department at email@example.com
The MyCity account allows you to access your City account information online and provides you with easy access to current and past notices, transaction history, property assessment and more. Register for MyCity.
Consequence of Unpaid Taxes
Current year outstanding taxes after the due date are subject to penalty(s). Any remaining balance outstanding at January 1 will accrue daily interest.
Unpaid user rates at December 31 are transferred to property taxes on January 1 and are treated like outstanding taxes.
If taxes are unpaid for three (3) consecutive years, the property will be sold at the City's Annual Tax Sale held on the last Monday of September.
Home Owner Grants
The Home Owner Grant (HOG) reduces the amount of property tax you pay for your principal residence. This program is administered by the Province of BC.
To apply and to learn more, visit the Province's website.
Tax deferment is a low interest loan program that helps qualified homeowners pay their annual property taxes on their principal residence. For more information and to apply, visit the Province's website.
2023 Tax Rates
Property Tax Classes & Rates
Class 01 - Residential: 5.83635 (decreased by 0.17232 from 2022 rate of 6.00867)
Class 02 - Utilities: 53.30744 (decreased by 0.16435 from 2022 rate of 54.47179)
Class 03 - Supportive Housing: 4.69935 (decreased by 0.11122 from 2022 rate of 4.78057)
Class 04 - Major Industry: 18.03738 (decreased by 0.39994 from 2022 rate of 18.43732)
Class 05 - Light Industry: 19.67881 (decreased by 0.50795 from 2022 rate of 20.18676)
Class 06 - Business/Other: 18.88793 (decreased by 0.56926 from 2022 rate of 19.45719)
Class 07 - Managed Forest Land: 26.73300 (increased by 0.24009 from 2022 rate of 26.97309)
Class 08 - Recreational/Non-Profit: 12.68406 (decreased by 0.24785 from 2022 rate of 12.93191)
Class 09 - Farm (Land): 5.03423 (increased by 0.20076 from 2022 rate of 4.83347)