Let's Talk Financial Plan 2025-2029
Each year, the City prepares a five-year financial plan to meet the needs of our community. Guided by Council priorities, the City’s annual budget is part of the five-year financial plan which sets the priority services, programs and initiatives for the next five years and how the City will pay for them. The City’s annual budget is part of a five-year financial plan which sets out the services and initiatives for the next five years and how the City of Parksville will pay for them. The City strives to maintain quality programs and services for our residents and keep taxes affordable for businesses and homeowners.
The dates for the financial planning process were provided to Council in September. Community consultation and engagement occurred throughout the financial planning process. The public is welcome to attend all meetings related to the financial plan and provide comments and feedback to Council. al plan.
2025
January 20 | Adoption of 2025-2029 Financial Plan Bylaw |
April 7 | Committee of the Whole Financial Plan meeting - amendments re new/updated information and BC Assessment Revised Roll |
April 23 | Regular Meeting - motions forward from the April 7 Committee of the Whole meeting |
April 28 | Special Financial Plan Meeting - 3 readings of 2025-2029 Amended Financial Plan Bylaw and 2025 Tax Rates Bylaw |
May 5 | Regular Meeting - Adoption of 2025 Amended Financial Plan and 2025 Tax Rates Bylaw |
** Please note, dates are subject to change
Each year, the City prepares a five-year financial plan to meet the needs of our community. Guided by Council priorities, the City’s annual budget is part of the five-year financial plan which sets the priority services, programs and initiatives for the next five years and how the City will pay for them. The City’s annual budget is part of a five-year financial plan which sets out the services and initiatives for the next five years and how the City of Parksville will pay for them. The City strives to maintain quality programs and services for our residents and keep taxes affordable for businesses and homeowners.
The dates for the financial planning process were provided to Council in September. Community consultation and engagement occurred throughout the financial planning process. The public is welcome to attend all meetings related to the financial plan and provide comments and feedback to Council. al plan.
2025
January 20 | Adoption of 2025-2029 Financial Plan Bylaw |
April 7 | Committee of the Whole Financial Plan meeting - amendments re new/updated information and BC Assessment Revised Roll |
April 23 | Regular Meeting - motions forward from the April 7 Committee of the Whole meeting |
April 28 | Special Financial Plan Meeting - 3 readings of 2025-2029 Amended Financial Plan Bylaw and 2025 Tax Rates Bylaw |
May 5 | Regular Meeting - Adoption of 2025 Amended Financial Plan and 2025 Tax Rates Bylaw |
** Please note, dates are subject to change
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Understanding Your BC Property Assessment Notice
Share Understanding Your BC Property Assessment Notice on Facebook Share Understanding Your BC Property Assessment Notice on Twitter Share Understanding Your BC Property Assessment Notice on Linkedin Email Understanding Your BC Property Assessment Notice linkJanuary 6, 2025
Parksville property owners will soon receive their 2025 assessment notices from the BC Assessment Authority. 2025 property assessments reflect market value as of July 1, 2024. The average increase in property values for your class of property is shown on your assessment notice.
We encourage property owners to visit BC Assessment Authority to search your property, compare assessments and review recent sales of nearby properties to see if your assessment is reasonable. The deadline to appeal your 2025 assessment through BC Assessment is January 31, 2025. Should you have questions about your assessment, contact BC Assessment at 1 866 825-8322 (Monday to Friday, 8.30 am to 5 pm.)
It is important to understand changes in property assessments do not automatically translate into a similar change in property taxes. If your assessment percentage increase is the same as the average residential increase for the City of Parksville, then the City’s portion of your property taxes will likely rise by only the amount of the tax increase approved by Council. For the City of Parksville, the 2024 typical assessed value (on July 1, 2023), of a single-family residential property was $743,000. The 2025 typical assessed value (on July 1, 2024) increased by 1% to $750,000. Information about Vancouver Island property assessments is provided here.
The Province of BC homeowner grant for 2025 for eligible properties in northern or rural areas (outside Metro Vancouver, Fraser Valley and Capital Regional districts) is as follows:
- Up to $770 for the basic homeowner grant.
- Up to $1,045 where the homeowner is 65 years or older or the homeowner is a person with a disability.
In May, after receiving the municipal property tax notice, eligible residents should apply for the homeowner grant on the BC Government website. Homeowners with more complex situations can get help by phone at 1 800 663-7867 or from a ServiceBC Centre. Assessment roll and jurisdiction numbers are needed to apply. Homeowners may also be eligible for property tax deferment if 55 or older or financially supporting a dependent child.
TO LEARN MORE:
Vancouver Island Region property assessment
BC Government Municipal Taxes
Property Tax DefermentFor more information:
Deb Tardiff, Manager of Communications
communications@parksville.ca; 250 954-3073 -
Parksville’s 2025-2029 Financial Plan
Share Parksville’s 2025-2029 Financial Plan on Facebook Share Parksville’s 2025-2029 Financial Plan on Twitter Share Parksville’s 2025-2029 Financial Plan on Linkedin Email Parksville’s 2025-2029 Financial Plan linkNovember 27, 2024
The City’s 2025-2029 financial plan will be considered at the December 16 Council meeting with three readings of the financial plan bylaw. It is expected final approval will be considered at the first Council meeting in 2025, on January 20.
Guided by Council priorities, the City’s five-year financial planning process includes input from City departments, Council briefings and public consultation. The five-year financial plan sets the priority services, programs and initiatives for the next five years and how the City will pay for them.
Property tax rates and utility rates for the City of Parksville will be set in spring 2025. The forecasted rate increases for 2025 are 7% for property taxes, 6% for water fees and 6% for sewer fees, which will result in an increase of about $175 over 2024 for an average residential property.
The increases to property taxes and utility fees include increased investments in current and long-term critical infrastructure renewal to support a sustainable long-term financial plan for the City. Funding to support the activities of Parksville community groups (Parksville Beach Festival Society, Oceanside Community Arts Council and Parksville Curling Club) was added to the financial plan. Additional investments are included to enhance accessibility to City facilities. The drinking water master plan, Parksville Pathway, completion of the transportation master plan, upgrades to utilities instrumentation and controls, and works at the water treatment plant are significant projects in 2025.
Public participation helps to ensure the plan reflects the community’s priorities and assists Council to balance individual needs and the needs of a growing community. Meetings to consider the 2025-2029 financial plan were held in October and November and we received public input through an online survey open from September 18 through October 17.
Financial plan and staff presentations from the Committee of the Whole and Council meetings may be viewed on Let’s Talk Parksville. As well, the meetings are archived and may be viewed on our website through webstreaming.
For more information:
Deb Tardiff, Manager of Communications
communications@parksville.ca; 250 954-3073 -
Help Shape Parksville’s 2025-2029 Financial Plan
Share Help Shape Parksville’s 2025-2029 Financial Plan on Facebook Share Help Shape Parksville’s 2025-2029 Financial Plan on Twitter Share Help Shape Parksville’s 2025-2029 Financial Plan on Linkedin Email Help Shape Parksville’s 2025-2029 Financial Plan linkSeptember 18, 2024
Each year, the City prepares a five-year financial plan to meet the needs of our community. Development of the financial plan is a complex process which includes input from City departments, background briefings for Council and public consultation. Guided by Council priorities, the City’s annual budget is part of the five-year financial plan which sets the priority services, programs and initiatives for the next five years and how the City will pay for them. The City strives to maintain quality programs and services for our residents and keep taxes affordable for businesses and homeowners.
Participation in the process by the public ensure the City’s financial plan reflects the community’s current wants and needs. Public feedback assists Council with balancing individual needs, combined with the needs of a growing community while delivering on key priorities and projects. It also helps inform the community on how City budgets are created, as well as how property tax dollars are spent.
COMMUNITY PRIORITIES SURVEY
City of Parksville Council wants members of the public to be involved in the budget process. The City is committed to ensuring fiscal responsibility while responding to the needs of our community and believes public engagement is important to the City’s financial planning process. Input will directly influence how the City’s budget is shaped and will assist Council to make financial choices.As we begin building the 2025-2029 financial plan and work to ensure your tax dollars are spent wisely, we need your ideas and input and hope you will share your thoughts on the City services which matter most to you. This is your chance to tell us what you value and where we should prioritize spending for the coming year. Online until October 27, the survey may be accessed from the City’s website and from this link. Paper copies may be obtained from City Hall.
Although you don’t need to be familiar with the City’s financial planning process to take part in this survey, Let’s Talk Parksville provides previous financial plans and presentations as well as many other details.
FINANCIAL PLAN MEETINGS OPEN TO PUBLIC
Council meetings to discuss the new financial plan will be held on October 28, October 30, November 4, November 6 and November 18. Refer to the City website calendar for times and Let’s Talk Parksville for more information.In addition to the survey and attending Council meetings, residents may participate through these means:
- Comments and questions may be emailed to council@parksville.ca and will form part of the public record.
- Learn about our financial planning process and ask questions. Let’s Talk Parksville offers information to help our residents and businesses understand the City’s financial planning process and how tax dollars are spent. Consider being involved by asking questions or sharing comments. Input will form part of the public record.
- Council public financial plan meetings will be webstreamed live and archived from our website.
For more information:
Deb Tardiff, Manager of Communications
communications@parksville.ca; 250 954-3073
Custom
Presentations and Reports to Council
Presentations and Reports to Council
2024
September 4
2025-2029 Financial Plan Timelines
October 28
2024 Forecast Highlights
Financial Plan Presentation COTW (Process, Activities Year-to-Date, Corporate Workplan, Economic Overview, Water and Sewer Funds)
October 30
General Fund, Operating and Capital
November 4
Reserve Balances, Items for Council Direction
November 6
Funding Requests from Community Groups
November 18
Council Direction – Changes to Core Financial Plan
2025-2029 Financial Plan Timeline
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September 2024
Let's Talk Financial Plan 2025-2029 has finished this stageCommunity Financial Plan Priorities survey
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October
Let's Talk Financial Plan 2025-2029 has finished this stageReports to Council
Asset Management, funding analysis, 2024 YTD, economic trends -
October 28
Let's Talk Financial Plan 2025-2029 has finished this stageCOTW Financial Plan meeting
Department presentations -
October 30
Let's Talk Financial Plan 2025-2029 has finished this stageCOTW Financial Plan meeting
Department presentations -
November 4
Let's Talk Financial Plan 2025-2029 has finished this stageCouncil meeting
Level of service, new projects -
November 6
Let's Talk Financial Plan 2025-2029 has finished this stageSpecial Financial Plan meeting
Community group presentations -
November 18
Let's Talk Financial Plan 2025-2029 has finished this stageCouncil meeting
Decision items, preliminary tax and utility rate options -
December 16
Let's Talk Financial Plan 2025-2029 has finished this stageThree readings 2025-2029 Financial Plan Bylaw
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January 20, 2025
Let's Talk Financial Plan 2025-2029 has finished this stageAdoption 2025-2029 Financial Plan Bylaw
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April 7
Let's Talk Financial Plan 2025-2029 is currently at this stageCOTW Financial Plan meeting
Amendments, BC Assessment Revised Roll -
April 23
this is an upcoming stage for Let's Talk Financial Plan 2025-2029Council Meeting
Motions from April 7 COTW -
April 28
this is an upcoming stage for Let's Talk Financial Plan 2025-2029Special Financial Plan meeting
Three readings 2025-2029 Amended Financial Plan Bylaw and 2025 Tax Rates Bylaw -
May 5
this is an upcoming stage for Let's Talk Financial Plan 2025-2029Council meeting
Adoption 2025-2029 Amended Financial Plan Bylaw and 2025 Tax Rates Bylaw