Council Report: BYLAW NO 921, 2015 BEING A TAX RATES BYLAW

TOWN OF VIEW ROYAL Council Report

TO: Council DATE: April 14, 2015 FROM: J. Beauchamp, Director of Finance MEETING: April 21, 2015

BYLAW NO 921, 2015 BEING A TAX RATES BYLAW

RECOMMENDATION:

THAT the Town of View Royal Tax Rates Bylaw No. 921, 2015 be given first, second and third readings.

CHIEF ADMINISTRATIVE OFFICER'S COMMENTS:

I concur with the recommendation.

BACKGROUND:

Section 197 of the Community Charter stipulates that a municipality must have a taxes rate bylaw that is adopted after the financial plan bylaw. The deadline for adoption is May 14 each year.

The average single family home will see an increase of 6.84% to $1,537 over the prior year (2014-$1,439). The residential class as a whole and all other classes will see an increase of 6.70%, of which 2.5% relates to the cost for the new Public Safety Building. The only exception is Class 2 Utilities, which will have a 0% increase as a result of B.C. Regulation 329/96 which states that View Royal may not set a tax rate exceeding the greater of $40 for each $1,000 of assessed value or 3.64 times the rate applicable to Class 6 (business) property for Class 2 (utility) property for general municipal purposes.

RECOMMENDATION:

THAT the Town of View Royal Tax Rates Bylaw No. 921, 2015 be given first, second and third readings.

SUBMITTED BY: J. Beauchamp, Director of Finance

REVIEWED BY: K. Anema, Chief Administrative Officer