Appendix
Schedule A: Municipal Tax Rates Analysis - Scenario A
April 14, 2020Page 2581 section
Statistical table showing Scenario A, an even increase across all tax classes with no change to existing tax ratios.
3.38% total revenue increase from prior year market valuesResidential single family assessment: $1,837,850,000Utilities tax rate: 40.00000
Schedule A: Municipal Tax Rates Analysis
Scenario A: Even increase across tax classes no change to tax ratios
| Scenario class multiples | |
|---|---|
| Utilities (Note 1) | 17.2544 |
| Light industry | 3.3385 |
| Business and other | 3.5500 |
| Rec/Non profit | 4.7265 |
| Farm | 9.2315 |
| Change in tax burden distribution | |
|---|---|
| Residential | 0.53% |
| Light industry | 0.01% |
| Business and other | -0.59% |
| Rec/Non profit | 0.04% |
| Farm | 0.00% |
2020 Tax Rate Analysis Table
| Property Class | 2020 Assessments Excluding Non-Market Change | 2020 Assessments Converted | Prior Year Tax Multiples | Prior Year Tax Rates | Prior Year Tax Revenue | Prior Year 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 | Prior Year Tax on $100,000 Property | Prior Year $100,000 Property Adjusted by 2020 Market | Current Scenario Results Tax on $100,000 Property | Increase (Decrease) | % Change | Tax Burden Distribution |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential Single Family | 1,837,850,000 | 1,837,850,000 | 1.0000 | 2.26725 | 4,206,116 | 48.13% | 1.0000 | 2.31825 | 4,260,593 | 2.25% | 1.30% | 12,827,800 | 29,738 | 226.73 | 99,067 | 229.66 | 2.94 | 1.30% | 46.49% |
| Residential Strata | 580,992,800 | 580,992,800 | 1.0000 | 2.26725 | 1,294,218 | 14.81% | 1.0000 | 2.31825 | 1,346,886 | 2.25% | 4.07% | 53,679,900 | 124,443 | 226.73 | 101,780 | 235.95 | 9.23 | 4.07% | 15.94% |
| Residential Vacant, ALR, Farm, Other | 274,904,503 | 274,904,503 | 1.0000 | 2.26725 | 584,790 | 6.69% | 1.0000 | 2.31825 | 637,297 | 2.25% | 8.98% | 32,814,600 | 76,072 | 226.73 | 106,581 | 247.08 | 20.36 | 8.98% | 7.73% |
| Total Residential | 2,693,747,303 | 2,693,747,303 | 1.0000 | 2.26725 | 6,085,123 | 69.63% | 1.0000 | 2.31825 | 6,244,776 | 2.25% | 2.62% | 99,322,300 | 230,253 | 226.73 | 100,366 | 232.67 | 5.95 | 2.62% | 70.16% |
| (1) Utilities | 378,000 | 6,522,163 | 17.6425 | 40.00000 | 13,348 | 0.15% | 17.2544 | 40.00000 | 15,120 | 0.00% | 13.28% | - | - | 4,000.00 | 113,275 | 4,531.02 | 531.02 | 13.28% | 0.16% |
| Light industry | 4,012,000 | 13,394,062 | 3.3385 | 7.56922 | 27,491 | 0.31% | 3.3385 | 7.73947 | 31,051 | 2.25% | 12.95% | (176,000) | (1,362) | 756.92 | 110,463 | 854.92 | 98.00 | 12.95% | 0.32% |
| Business and other | 325,088,200 | 1,154,063,110 | 3.5500 | 8.04875 | 2,551,686 | 29.20% | 3.5500 | 8.22978 | 2,675,405 | 2.25% | 4.85% | (4,316,000) | (35,520) | 804.88 | 102,542 | 843.90 | 39.02 | 4.85% | 28.61% |
| Rec/Non profit | 6,108,000 | 28,869,462 | 4.7265 | 10.71617 | 60,353 | 0.69% | 4.7265 | 10.95720 | 66,927 | 2.25% | 10.89% | - | - | 1,071.62 | 108,452 | 1,188.33 | 116.71 | 10.89% | 0.73% |
| Farm | 60,501 | 558,515 | 9.2315 | 20.93015 | 1,266 | 0.01% | 9.2315 | 21.40091 | 1,295 | 2.25% | 2.26% | (17,296) | (370) | 2,093.02 | 100,008 | 2,140.27 | 47.25 | 2.26% | 0.01% |
| Totals | 3,029,394,004 | 3,897,154,615 | 8,739,268 | 99.99% | 9,034,573 | 94,813,004 | 193,001 | 99.99% |
(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 Revenue Analysis | |
|---|---|
| Total revenue increase from prior year market value assessments | 3.38% |
| Total revenue increase from non-market value assessments | 2.21% |
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Extracted from: 2020 04 14 Special Council Agenda - Agenda - Pdf