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
• Parks
• Libraries
• Schools
• Hospitals

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.

For example:

The average assessed value for a single-family residence in 2024 decreased by 2.83% due to market change. The City of Nanaimo budget increase for 2024 was 7.7%.

• If the property decreased in value less than the market change of -2.83%, you will likely see an increase in your municipal taxes of greater than 7.7%.
• If your property decreased in value equal to the market change of -2.83%, your municipal taxes will likely increase at the average of 7.7%.

BC Assessment provides a great infographic on the relationship between the assessment and the property taxes.

*Please note that the tax increase of 7.7% 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 property.info@nanaimo.ca

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.

Deferment

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.

2024 Tax Rates

Property Tax Classes & Rates

Class 01 - Residential: 6.41543 (increased by 0.57908 from 2023 rate of 5.83635)

Class 02 - Utilities: 53.51887 (increased by 0.21143from 2023 rate of 53.30744)

Class 04 - Major Industry: 18.59180 (increased by 0.55442 from 2023 rate of 18.03738)

Class 05 - Light Industry: 20.28220 (increased by 0.60339 from 2023 rate of 19.67881)

Class 06 - Business/Other: 19.41817 (increased by 0.53024 from 2023 rate of 18.88793)

Class 07 - Managed Forest Land: 27.66258 (increased by 0.92958 from 2023 rate of 26.73300)

Class 08 - Recreational/Non-Profit: 13.86371 (increased by 1.17965 from 2023 rate of 12.68406)

Class 09 - Farm (Land): 5.06959 (increased by 0.03536 from 2023 rate of 5.03423)