Town of Comox residents can expect an increase of close to five percent to their property tax rate this year, equaling about a five-dollar increase per month per household to live in the municipality.

Town of Comox residents can expect an increase of close to five percent to their property tax rate this year, equaling about a five-dollar increase per month per household to live in the municipality.

Last week, council formally approved a 4.8 per cent municipal property tax rate over the same properties taxed in 2021. This means for a single-family property, the increase will be $65.13, and for businesses within the town, the cost will increase by $187.29.

At 4.8 percent, Mayor Russ Arnott noted the rate is the lowest tax rate in the Comox Valley.

A special council meeting is set for May 11th to formally adopt the bylaws with a committee of the whole meeting set to follow immediately afterward.