Appendix
Schedule A, B, and C: 2019 Tax Rate Analysis
April 9, 2019Pages 48–503 sections
Supporting schedules for the tax rate report detailing scenario impacts, assessments, and sample property comparisons.
Scenarios A through F analyzedResidential Single Family estimated tax increase of $15 (Scenario A)Total revenue increase from prior year assessments: 5.20%
Schedule A: Municipal Tax Rates Analysis
Scenario A: Even increase across tax classes no change to tax ratios
Scenario class multiples
- Utilities (Note 1): 17.6992
- Light industry: 3.3385
- Business and other: 3.6000
- Rec/Non profit: 4.1100
- Farm: 9.2315
Change in tax burden distribution
- Residential: 0.38%
- Light industry: -0.01%
- Business and other: -0.28%
- Rec/Non profit: -0.09%
- Farm: -0.01%
2019 Assessments and Tax Analysis
| Property Class | 2019 Assessments (Excl. Non-Market Change) | 2019 Assessments (Converted) | Prior Year Tax Multiples | Prior Year Tax Rates | Prior Year Tax Revenue | Prior Year Tax Burden Dist. | Current Scenario Multiples | Current Scenario Rates | Current Scenario Revenue | % Change in Tax Rates | % Change in Class Contribution | Non-Market Change Assessments | Non-Market Change Revenue | Prior Year Tax on $100k Property | Prior Year Adj. $100k Property (2019 Market) | Current Tax on $100k Property | Increase (Decrease) | % Change | Tax Burden Distribution |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential Single Family | 1,820,075,500 | 1,820,075,500 | 1.0000 | 2.38224 | 3,868,277 | 47.48% | 1.0000 | 2.25998 | 4,113,342 | -5.13% | 6.34% | 35,214,500 | 79,584 | 238.22 | 112,088 | 253.32 | 15.09 | 6.34% | 47.98% |
| Residential Strata | 561,491,500 | 561,491,500 | 1.0000 | 2.38224 | 1,216,586 | 14.93% | 1.0000 | 2.25998 | 1,268,962 | -5.13% | 4.31% | 9,340,000 | 21,108 | 238.22 | 109,948 | 248.48 | 10.26 | 4.31% | 14.76% |
| Residential Vacant, ALR, Farm, Other | 255,545,903 | 255,545,903 | 1.0000 | 2.38224 | 539,456 | 6.62% | 1.0000 | 2.25998 | 577,530 | -5.13% | 7.06% | 2,383,100 | 5,386 | 238.22 | 112,849 | 255.04 | 16.81 | 7.06% | 6.67% |
| Total Residential | 2,637,112,903 | 2,637,112,903 | 1.0000 | 2.38224 | 5,624,318 | 69.03% | 1.0000 | 2.25998 | 5,959,833 | -5.13% | 5.97% | 46,937,600 | 106,078 | 238.22 | 111,698 | 252.44 | 14.21 | 5.97% | 69.41% |
| (1) Utilities | 333,700 | 5,906,223 | 16.7909 | 40.00000 | 12,872 | 0.16% | 17.6992 | 40.00000 | 13,348 | 0.00% | 3.70% | - | - | 4,000.00 | 103,698 | 4,147.92 | 147.92 | 3.70% | 0.15% |
| Light industry | 3,632,000 | 12,125,432 | 3.3385 | 7.95309 | 26,229 | 0.32% | 3.3385 | 7.54496 | 27,403 | -5.13% | 4.48% | - | - | 795.31 | 110,127 | 830.91 | 35.60 | 4.48% | 0.31% |
| Business and other | 309,419,900 | 1,113,911,640 | 3.6000 | 8.57605 | 2,426,839 | 29.79% | 3.6000 | 8.13594 | 2,517,423 | -5.13% | 3.73% | 7,608,900 | 61,906 | 857.61 | 109,344 | 889.62 | 32.01 | 3.73% | 29.51% |
| Rec/Non profit | 5,632,000 | 23,147,520 | 4.1100 | 9.79099 | 56,210 | 0.69% | 4.1100 | 9.28853 | 52,313 | -5.13% | -6.93% | - | - | 979.10 | 98,101 | 911.22 | (67.88) | -6.93% | 0.60% |
| Farm | 60,496 | 558,469 | 9.2315 | 21.99160 | 1,330 | 0.02% | 9.2315 | 20.86304 | 1,262 | -5.13% | -5.13% | - | - | 2,199.16 | 100,000 | 2,086.30 | (112.86) | -5.13% | 0.01% |
| Totals | 2,956,190,999 | 3,792,762,187 | 8,147,800 | 100.01% | 8,571,582 | 54,546,500 | 167,984 | 99.99% |
Notes: (1) The Utility Tax Levy can not exceed the greater of a) $40 for each $1,000 of assessed value b) 2.5 times the rate applicable to business class 6
- Total revenue increase from prior year market value assessments: 5.20%
- Total revenue increase from non-market value assessments: 2.06%
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Schedule B: 2019 Tax Rate Scenarios
Summary of impact on $100,000 assessed value (2018)
| Scenario | Description |
|---|---|
| Scenario A | Even increase across tax classes no change to tax ratios |
| Scenario B | Class 8 rate equal to 2018 |
| Scenario C | Decrease Class 5 and Class 6 ratios to 3.1 and 3.3 respectively |
| Scenario D | Increase Class 8 ratio by 10% |
| Scenario E | Scenarios C and D combined (Class 8 increase 10% and Classes 5 and 6 reduced to 3.1 and 3.3 respectively) |
| Scenario F | Decrease Class 6 ratio to 3.3 |
Changing Tax Ratios
| Class | Prior Year | Scenario A | Scenario B | Scenario C | Scenario D | Scenario E | Scenario F |
|---|---|---|---|---|---|---|---|
| Utilities | 16.7909 | 17.6992 | 17.7050 | 17.2593 | 17.7099 | 17.2699 | 17.2633 |
| Light industry | 3.3385 | 3.3385 | 3.3385 | 3.1000 | 3.3385 | 3.1000 | 3.3385 |
| Business | 3.6000 | 3.6000 | 3.6000 | 3.3000 | 3.6000 | 3.3000 | 3.3000 |
| Rec/Non profit | 4.1100 | 4.1100 | 4.3337 | 4.1100 | 4.5210 | 4.5210 | 4.1100 |
| Farm | 9.2315 | 9.2315 | 9.2315 | 9.2315 | 9.2315 | 9.2315 | 9.2315 |
Resulting Tax Rates
| Class | Prior Year Rate | Scenario A | Scenario B | Scenario C | Scenario D | Scenario E | Scenario F |
|---|---|---|---|---|---|---|---|
| Residential (1) | 2.38224 | 2.25998 | 2.25925 | 2.31759 | 2.25863 | 2.31617 | 2.31706 |
| Light industry (5) | 7.95309 | 7.54496 | 7.54250 | 7.18453 | 7.54044 | 7.18012 | 7.73550 |
| Business and other (6) | 8.57605 | 8.13594 | 8.13329 | 7.64805 | 8.13107 | 7.64335 | 7.64629 |
| Rec/Non profit (8) | 9.79099 | 9.28853 | 9.79090 | 9.52530 | 10.21127 | 10.47139 | 9.52311 |
Resulting Taxes (Impact on $100,000 Property)
| Property Segment | Prior Year Taxes | Prior Year Adj. by 2019 Market | Market % Chg | Scenario A $ Chg | Scenario A % Chg | Scenario B $ Chg | Scenario B % Chg | Scenario C $ Chg | Scenario C % Chg | Scenario D $ Chg | Scenario D % Chg | Scenario E $ Chg | Scenario E % Chg | Scenario F $ Chg | Scenario F % Chg |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential Single Family | 238 | 112,088 | 12% | 15 | 6.3% | 15 | 6.3% | 22 | 9.0% | 15 | 6.3% | 21 | 9.0% | 21 | 9.0% |
| Residential Strata | 238 | 109,948 | 10% | 10 | 4.3% | 10 | 4.3% | 17 | 7.0% | 10 | 4.2% | 16 | 6.9% | 17 | 6.9% |
| Total Residential | 238 | 111,698 | 12% | 14 | 6.0% | 14 | 5.9% | 21 | 8.7% | 14 | 5.9% | 20 | 8.6% | 21 | 8.6% |
| Business and other | 858 | 109,344 | 9% | 32 | 3.7% | 32 | 3.7% | -21 | -2.5% | 31 | 3.7% | -22 | -2.5% | -22 | -2.5% |
| Rec/Non profit | 979 | 98,101 | -2% | -68 | -6.9% | -19 | -1.9% | -45 | -4.6% | 23 | 2.3% | 48 | 4.9% | -45 | -4.6% |
Note: $ Chg per $100,000 assessment is the estimated change in property taxes per $100,000 based on 2018 assessments, adjusted by the average increase in assessments for the property class or segment in 2019. For example, a single-family residential property that was $100,000 in 2018 is projected to have an assessed value of $112,000 in 2019, based on the total increase for that property class/segment. The projected dollar change in taxes shown above ($ Chg) includes the effect of the assessed value increase AND the impact of the applicable scenario.
The average percentage change for each property class is shown in the "% Change" column of Schedule A: 2019 Net Taxable Assessments (Revised Roll).
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Schedule C: 2019 Tax Rate Analysis - Sample Properties
Sample property comparatives
| Property sample | Folio | Class | 2018 Tax Rate | 2018 Assessment | 2018 Taxes | 2019 Assessment | 2019 Assess % change | Scenario A $ Inc/(Dec) | Scenario A % Chg | Scenario B $ Inc/(Dec) | Scenario B % Chg | Scenario C $ Inc/(Dec) | Scenario C % Chg | Scenario D $ Inc/(Dec) | Scenario D % Chg | Scenario E $ Inc/(Dec) | Scenario E % Chg | Scenario F $ Inc/(Dec) | Scenario F % Chg |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class Representative (Single Family) | n/a | 1 | 2.38224 | 691,861 | 1,648.18 | 774,328 | 12% | 101.79 | 6.18% | 101.22 | 6.14% | 146.40 | 8.88% | 100.74 | 6.11% | 145.29 | 8.82% | 145.98 | 8.86% |
| Class Representative (Strata) | n/a | 1 | 2.38224 | 436,487 | 1,039.82 | 481,308 | 10% | 47.93 | 4.61% | 47.58 | 4.58% | 75.66 | 7.28% | 47.28 | 4.55% | 74.97 | 7.21% | 75.40 | 7.25% |
| 1256 Burnside Rd W | 401 07644.000 | 1 | 2.38224 | 939,000 | 2,236.92 | 1,028,000 | 9% | 86.34 | 3.86% | 85.58 | 3.83% | 145.56 | 6.51% | 84.95 | 3.80% | 144.10 | 6.44% | 145.01 | 6.48% |
| 284 Pallisier Ave | 401 04391.000 | 1 | 2.38224 | 549,000 | 1,307.85 | 636,000 | 16% | 129.50 | 9.90% | 129.03 | 9.87% | 166.14 | 12.70% | 128.64 | 9.84% | 165.23 | 12.63% | 165.80 | 12.68% |
| 525 Prince Robert Dr | 401 06940.000 | 1 | 2.38224 | 661,000 | 1,574.66 | 759,000 | 15% | 140.67 | 8.93% | 140.11 | 8.90% | 184.39 | 11.71% | 139.64 | 8.87% | 183.31 | 11.64% | 183.99 | 11.68% |
| 296 Eltham Rd | 401 04631.000 | 1 | 2.38224 | 591,000 | 1,407.90 | 633,000 | 7% | 22.67 | 1.61% | 22.20 | 1.58% | 59.13 | 4.20% | 21.81 | 1.55% | 58.23 | 4.14% | 58.79 | 4.18% |
| 340 Island Hwy | 401 06992.001 | 1 | 2.38224 | 6,553,000 | 15,610.82 | 7,113,000 | 9% | 464.45 | 2.98% | 459.21 | 2.94% | 874.21 | 5.60% | 454.82 | 2.91% | 864.08 | 5.54% | 870.41 | 5.58% |
| 120 Hallowell Rd | 401 03672.012 | 5 | 7.95309 | 2,841,000 | 22,594.73 | 3,155,000 | 11% | 1,209.61 | 5.35% | 1,201.85 | 5.32% | 72.47 | 0.32% | 1,195.35 | 5.29% | 58.54 | 0.26% | 1,810.77 | 8.01% |
| Class Representative (Class 6) | n/a | 6 | 8.57605 | 2,245,863 | 19,260.63 | 2,536,230 | 13% | 1,373.99 | 7.13% | 1,367.27 | 7.10% | 136.59 | 0.71% | 1,361.63 | 7.07% | 124.67 | 0.65% | 132.12 | 0.69% |
| 1708 Island Hwy | 401 07071.010 | 6 | 8.57605 | 21,514,000 | 184,505.14 | 27,318,000 | 27% | 37,752.54 | 20.46% | 37,680.07 | 20.42% | 24,424.30 | 13.24% | 37,619.36 | 20.39% | 24,295.92 | 13.17% | 24,376.23 | 13.21% |
| 127 Burnett Rd | 401 06983.000 | 8 | 9.79099 | 5,609,000 | 54,917.66 | 5,500,000 | (2%) | (3,830.72) | (6.98%) | (1,067.72) | (1.94%) | (2,528.52) | (4.60%) | 1,244.30 | 2.27% | 2,674.99 | 4.87% | (2,540.57) | (4.63%) |
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Extracted from: 2019 04 09 Committee of the Whole Agenda - Agenda - Pdf