Schedule B: 2018 Tax Rates Analysis - Summary of impact per $100,000 (2017 assessments)
Analysis of the financial impact per $100,000 of assessed value under six different tax rate scenarios.
Town of View Royal - 2018 Tax Rates Analysis
Schedule B: Summary of impact per $100,000 (2017 assessments)
Changing Tax Ratios
| Scenario | Scenario A | Scenario B | Scenario C | Scenario D | Scenario E | Scenario F |
|---|---|---|---|---|---|---|
| Description | Even increase across tax classes no change to tax ratios | Class 8 rate equal to 2017 | Decrease Class 5 and Class 6 ratios to 3.1 and 3.3 respectively | Increase Class 8 ratio by 10% | Scenarios C and D combined (Class 8 increase 10% and Classes 5 and 6 reduced to 3.1 and 3.3 respectively) | Decrease Class 6 ratio to 3.3 |
| Utilities | 16.7811 | 16.7910 | 16.3598 | 16.7918 | 16.3705 | 16.3636 |
| Light industry | 3.3385 | 3.3385 | 3.1000 | 3.3385 | 3.1000 | 3.3385 |
| Business | 3.6000 | 3.6000 | 3.3000 | 3.6000 | 3.3000 | 3.3000 |
| Rec/Non profit | 3.7600 | 4.1100 | 3.7600 | 4.1400 | 4.1400 | 3.7600 |
| Farm | 9.2315 | 9.2315 | 9.2315 | 9.2315 | 9.2315 | 9.2315 |
Results: Impact per $100,000 assessment
| Property Type | Scenario A ($ Chg / % Chg) | Scenario B ($ Chg / % Chg) | Scenario C ($ Chg / % Chg) | Scenario D ($ Chg / % Chg) | Scenario E ($ Chg / % Chg) | Scenario F ($ Chg / % Chg) |
|---|---|---|---|---|---|---|
| Residential Single Family | -$17 / -0.99% | -$18 / -1.05% | $26 / 1.56% | -$18 / -1.06% | $25 / 1.49% | $26 / 1.53% |
| Residential Strata | $74 / 7.66% | $73 / 7.60% | $101 / 10.43% | $73 / 7.59% | $100 / 10.36% | $101 / 10.41% |
| Total Residential | $35 / 2.34% | $34 / 2.28% | $75 / 4.98% | $34 / 2.28% | $74 / 4.91% | $74 / 4.95% |
| Business and other | $156 / 0.82% | $145 / 0.76% | -$995 / -5.20% | $144 / 0.75% | -$1,006 / -5.27% | -$999 / -5.23% |
| Rec/Non profit | -$260 / -35.98% | -$218 / -30.06% | -$249 / -34.33% | -$214 / -29.55% | -$201 / -27.74% | -$249 / -34.34% |
Note: $ Chg per $100,000 assessment is the estimated change in property taxes per $100,000 based on 2017 assessments, adjusted by the average increase in assessments for the property class or segment in 2018. For example, a single-family residential property that was $100,000 in 2017 is projected to have an assessed value of $109,520 in 2018, based on the total increase for that property class/segment. The projected dollar change in taxes shown above ($ Chg per $100,000 assessment) 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 "Percent Change" column of Schedule A 2018 Net Taxable Assessments (Revised Roll).