In 2019, Ladysmith residents will experience a marginal increase in municipal property taxes as we continue to make significant, long-term investments that set a solid foundation for the future of our community.
This year, residential municipal taxes will rise to 3.4 per cent based on the assessed value of your property as determined by BC Assessment. For example, a single family residential property with an assessed value of $426,000 in 2019, up approximately 11 per cent in market value over 2018, will pay $56.53 more in municipal property taxes this year.
"Ladysmith Council made fiscally responsible decisions during the 2019 Budget discussions to keep your municipal property taxes low while also ensuring we continue to provide reliable services and invest in new and existing infrastructure," said Mayor Aaron Stone. "Key cornerstone projects such as the new Water Treatment Plant help to ensure our community has reliable access to the highest standard of clean, safe drinking water for decades to come. We are excited that this facility is on track for completion later this year."
Ladysmith's total municipal taxation for 2019 is $8.451 million. This helps to cover the ongoing costs of maintaining parks, roads and other infrastructure, keeping our community safe, running the Frank Jameson Community Centre, supporting many local community organizations through Grants-in-Aid, and more.
There are a number of additional projects underway or planned for our community in 2019 including:
The Town has additional operational costs for this year which also factor into the overall tax increase. These include the Employer Health Tax, introduced by the BC government on Jan. 1, 2019, as well as setting funds aside for an additional Ladysmith RCMP member - bringing the total for municipally-funded officers to eight.
Federal and provincial grants help to offset some of our capital costs and reduce the burden on our taxpayers and we will continue to apply for various opportunities. In 2018, we received $1.8 million in grant funds to help upgrade the historic Machine Shop - a key piece of the Arts and Heritage Hub in our Waterfront Area Plan. These exciting improvements continue to move forward in 2019. Construction costs of the new Water Filtration plant are offset by an $8.8 million grant we received in 2017.
Property tax notices are being mailed to homes in mid-May. Residents can pay for their property taxes in two simple steps.
First: Claim your Home Owner Grant at City Hall or online by clicking the Property Taxes logo on our home page at www.ladysmith.ca
Second: Pay your property Taxes by Tuesday, July 2, 2019 at 4 pm using one of the following methods:
Information about the budget is available on our website at www.ladysmith.ca, and at City Hall. We encourage you to review the details and direct comments or questions to Council or staff by sending an e-mail to firstname.lastname@example.org, or by calling City Hall at 250.245.6400.