Appendix
Schedule 4 - 2022 Municipal Tax Rates Analysis Scenario A
April 12, 2022Page 1471 section
A detailed data sheet showing the tax distribution and burden for 'Scenario A', which changes all rates by the same percentage.
Residential tax burden under Scenario A: 74.76%Utilities tax burden: 0.29%Total property tax revenue required: $9,875,717
Schedule 4 2022 Municipal Tax Rates Analysis
Scenario A (4.7%) Change all tax rates by same percentage; no change to tax ratios from prior year
| Scenario class multiples | Value |
|---|---|
| Utilities (Note 1) | 19.4843 |
| Light industry | 3.3385 |
| Business and other | 3.6933 |
| Rec/Non profit | 5.1000 |
| Farm | 9.2315 |
| Change in tax burden distribution | Value |
|---|---|
| Residential | 3.52% |
| Light industry | -0.04% |
| Business and other | -3.19% |
| Rec/Non profit | -0.39% |
| Farm | 0.00% |
| Property Class | Current Year Assessments: Excluding Non-Market Change | Current Year Assessments: Converted | Prior Year Tax: Multiples | Prior Year Tax: Rates | Prior Year Tax: Revenue | Prior Year Tax: Tax Burden Distribution | Current Tax Scenario: Multiples | Current Tax Scenario: Rates | Current Tax Scenario: Revenue | % Change in Tax Rates | % Change in Class Contribution | Non-Market Change: Assessments | Non-Market Change: Revenue | Tax on $100,000 Property (Prior Year) | Prior Year $100,000 Property Adjusted by 2022 Market | Tax on PY $100,000 Property (Current Scenario) | Increase (Decrease) | % Change | Tax Burden Distribution (Current Scenario Results) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential Single Family | 2,484,027,600 | 2,484,027,600 | 1.0000 | 2.33334 | 4,542,619 | 48.20% | 1.0000 | 2.05293 | 5,099,545 | -12.02% | 12.26% | 8,874,000 | 18,218 | 233.33 | 127,593 | 261.94 | 28.61 | 12.26% | 51.52% |
| Residential Strata | 765,584,800 | 765,584,800 | 1.0000 | 2.33334 | 1,517,271 | 16.10% | 1.0000 | 2.05293 | 1,571,695 | -12.02% | 3.59% | 30,745,000 | 63,117 | 233.33 | 117,736 | 241.70 | 8.37 | 3.59% | 16.46% |
| Residential Vacant, ALR, Farm, Other | 318,377,303 | 318,377,303 | 1.0000 | 2.33334 | 653,903 | 6.94% | 1.0000 | 2.05293 | 653,608 | -12.02% | -0.05% | 9,465,500 | 19,432 | 233.33 | 113,607 | 233.23 | -0.11 | -0.05% | 6.78% |
| Total Residential | 3,567,989,703 | 3,567,989,703 | 1.0000 | 2.33334 | 6,713,793 | 71.24% | 1.0000 | 2.05293 | 7,324,848 | -12.02% | 9.10% | 49,084,500 | 100,767 | 233.33 | 124,003 | 254.57 | 21.24 | 9.10% | 74.76% |
| (1) Utilities | 518,600 | 10,104,558 | 17.1428 | 40.00000 | 17,272 | 0.18% | 19.4843 | 40.00000 | 20,744 | 0.00% | 20.10% | 208,200 | 8,328 | 4,000.00 | 120,102 | 4,804.08 | 804.08 | 20.10% | 0.29% |
| Light industry | 3,863,000 | 12,896,626 | 3.3385 | 7.78987 | 28,800 | 0.31% | 3.3385 | 6.85372 | 26,476 | -12.02% | -8.07% | - | - | 778.99 | 104,487 | 716.13 | -62.86 | -8.07% | 0.27% |
| Business and other | 315,823,100 | 1,166,429,455 | 3.6933 | 8.61774 | 2,556,447 | 27.13% | 3.6933 | 7.58210 | 2,394,603 | -12.02% | -6.33% | (2,233,700) | (16,936) | 861.77 | 106,463 | 807.22 | -54.56 | -6.33% | 23.94% |
| Rec/Non profit | 10,315,500 | 52,609,050 | 5.1000 | 11.90005 | 106,382 | 1.13% | 5.1000 | 10.46996 | 108,003 | -12.02% | 1.52% | (3,281,500) | (34,357) | 1,190.01 | 115,391 | 1,208.14 | 18.14 | 1.52% | 0.74% |
| Farm | 55,066 | 508,342 | 9.2315 | 21.54026 | 1,200 | 0.01% | 9.2315 | 18.95166 | 1,044 | -12.02% | -13.03% | 1,844 | 35 | 2,154.03 | 98,848 | 1,873.33 | -280.70 | -13.03% | 0.01% |
| Totals | 3,898,564,969 | 4,810,537,733 | 9,423,893 | 100.00% | 9,875,717 | 43,779,344 | 57,837 | 100.01% |
(1) The Utility Tax Levy cannot exceed the greater of a) $40 for each $1,000 of assessed value b) 2.5 times the rate applicable to business class 6
| Summary Results | Percentage |
|---|---|
| Total revenue increase from prior year market value assessments | 4.79% |
| Total revenue increase from non-market value assessments | 0.61% |
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Extracted from: 2022 04 12 Committee of the Whole Agenda - Agenda - Pdf