Lantzville expected to adopt budget with 20.7% tax increase – Nanaimo News Bulletin
District of Lantzville council has settled on a budget for 2022 that is slated for adoption next week.
Council held a public meeting Wednesday, Nov. 24, to take final input into the 2022-26 financial plan bylaw and pass three readings.
Director of financial services Raj Hayre reported that since last month’s budget meetings, B.C. Assessment has provided a preview property tax roll which has calculated that Lantzville’s average single-family home assessment is now close to $1.01 million, up from $754,000.
“The good news is that there’s a lot more millionaires in Lantzville than there were a month ago, and that’s just the nature of the market here,” said Coun. Will Geselbracht. “So crack the champagne.”
Hayre explained that higher assessments won’t change the dollar amounts that the district would collect …
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