Schedule C: 2019 Taxation Requirement Details

Schedule C 2019 Taxation Requirement Details

2019-2023 Financial Plan Approval

Description	Amount	% Change
Estimated property taxes at 2018 rates (based on Completed Roll)
2018 property taxation	$ 8,147,788
2019 non-market change (NMC)	245,994
2019 property taxation at 0% increase	8,393,782
Taxation increase required for core operating budget
Increase in labour costs (including new Employer Health Tax)	295,408	3.5%
Decrease in costs of other core expenses	(11,228)	(0.1%)
Decrease in revenue estimates	55,894	0.7%
Decrease in transfers from reserves and surplus	101,265	1.2%
Increase in transfers to reserves	61,189	0.7%
Total taxation increase required for core operating budget	502,528	6.0%
Taxation increase required for non-core requests and operational cost of capital	38,625	0.4%
Total taxation increase required	541,153	6.4%
Revenue from new construction	(245,994)	2.9%
2019 tax increase required	295,159	3.5%
2019 total taxation revenue	$ 8,688,941

The first calculation in the table above demonstrates if there were no changes to the tax rates in 2019 a total of nearly $8.4 million would be raised. Each 1% increase equates to approximately $84,000 in tax revenue. This financial plan estimates a 3.5% tax increase is required to fund core services, including the new Employer Health tax and non-core requests.

Nearly $0.65 out of every tax dollar funds protective and transportation services, while $0.10 funds general government services including support to Council and overall corporate administration.

Treemap chart titled "Allocation of Tax Dollars to Services" showing proportions for Protective services, Transportation, General government, Parks, Recreation and culture, Development services, Debt, and Reserve contributions.