Appendix
Schedule C: 2020/2021 Tax increase components
April 14, 2020Page 2201 section
A breakdown of the specific components contributing to the proposed municipal tax increases for 2020 and 2021.
Reserve contributions: 3.5% of 2020 increaseOperations: 0.5% of 2020 increaseTotal 2020 tax increase: 5.5% (before new construction offset)
2020/2021 Tax increase components
| Category | 2020 $ | 2020 % | 2021 $ | 2021 % |
|---|---|---|---|---|
| Non-core projects (labour-related) | 139,815 | 1.5 | 189,444 | 2.1 |
| Reserve contributions | 306,790 | 3.5 | -116,000 | -1.3 |
| Operations | 41,403 | 0.5 | 311,564 | 3.4 |
| Total increase | 488,008 | 5.5 | 385,008 | 4.2 |
| Non-market change (estimate) | 229,000 | 2.6 | 100,000 | 1.1 |
| Tax increase required | 259,008 | 2.9 | 285,008 | 3.1 |
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Extracted from: 2020 04 14 Special Council Agenda - Agenda - Pdf